I imagine if there is a lot of altcoins, there will be altcoins that will not survive and eventually lost. Will altcoins that survive has the capacity to raise its value as high as bitcoin?
The number of altcoins in the circulation did not translate to over all increasing in the market capitalization of the cryptocurrencies. In think we don't need most of the altcoins and tokens in the market as some of them are the same and solve the same problems.