There is an important field in coinmarketcap "bitcoin dominance" most people look at it. Last year when bitcoin was rising to its peak, its dominance was over 50%. The implication? Bitcoin was gaining value against most altcoins except some few.
I think the reason for this is:
- One of the reasons for the decline in the dominance of Bitcoin is its high price, as many seem to be losing hope of earning foreign profits from simple investments. [Invest 1$ in shitcoin & earn 100000 after three years]
- Multiple trading platforms and the possibility of buying altcoins directly without the need for Bitcoin is an extra reason where in the past you must buy Bitcoin to get alts.
- There are more than 1,700 coins, so the daily increase in those currencies should reduce this dominance.
1. Hold more of Bitcoin right now, and a few altcoins that have values that institutional investors cannot ignore.
All altcoins "except
Shitstablecoins" depend on the price of the Bitcoin so if you want material gains, bitcoin is your choice.
Also, if there is an economic shock, all the altcoins will return to zero.