Most altcoins are created for a short period for a fast gain. Look at the coinmarketcap site, you will not recognise half of the coins there = fast turn-over. However, a little bit solid altcoins like ethereum and bcash dropped hugely so I think people are escaping to the safest alternative which is bitcoin.
Right! But it is not the "safest
alternative", it is the
only cryptocurrency to hold in bear markets, or for me, the only cryptocurrency to hold for store of value in any type of market condition. Although, I have a small "investment" in Decred. Hahaha.