I'm not referring to the price of Bitcoin (we all know it's going to be $250,000/coin by 2022), but the goal that it would be a legitimate alternative to inflationary government fiat currencies. When the altcoin market is examined, it is inextricably linked to the price of Bitcoin. Where Bitcoin goes, so does the rest of the cryptocurrencies. There's even somewhat of a dismissive attitude toward other crytpos in some investment circles; strangely this was a similar sentiment held by those "respectable" investors when Bitcoin was in its infancy.
What do you think? I'd love to hear from some crytpo veterans.
Bitcoin in its current state has definitely failed to become an altetnative to fiat since btc's inflation/deflation cycles are even worse.
We call this volatility, but in fact it's just the unregulated supply and demand that cause these drastic differences of price.