More and more ICO projects are coming based on many major currencies and specially in this year the trend increased rapidly with many reputed organizations that are in various industries and trades decided to start there own digital currency to make there business more effective and efficient in order to gain more profit.
Can these new launching Altcoin's make a negative impact on bitcoin's expansion in the future because we all know in order to increase the demand, usability and accessibility of bitcoin it should be widely use in most business areas but if Altcoin's take these opportunities how it can achieve its vision to become a widely used digital currency
In my opinion they can't because if we observe the recent announcement made by SEC is Bitcoin and Ethereum only will come under non security tokens and all other ICO tokens will come under definition of security tokens. This ICO scheme is pure form of raising capital through tokens and the project performance depends on team execution and most of the projects have several bugs in smart contracts to generate their tokens infinitely.
So it means no other Altcoin can't reach Bitcoin in terms of Market capitalisation.