So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?
Well if that will happen thier will be a new king on crypto but as we see so far that theres no other coin can surpass the value of bitcoin.
Yep, expect bitcoin to drop in value, but as of now there is no strong coin that can defeat bitcoin on top. The current trend is still depend on the market situation of bitcoin. Maybe in the future, who knows right? Since this is a continuous growing market.
and if there is another cryptocurrency took bitcoin place, I think it will change the cryptocurrency to a new situation which bitcoin will on the second place of the cryptocurrency. but personally, I don't think that it can happen as we know that bitcoin still lead the cryptocurrency and in the market, the altcoin still adjusts their price from bitcoin price. but we don't know what will happen in the future because cryptocurrency still new things among us and cryptocurrency have a bright future.