Looking at the market dominance, bitcoin covers almost 70.5% of the market trade as of time of writing. there is the need for altcoin recovery or it might spell doom for investors. i.e, people invest today on a new project and sell off tomorrow.
According to a wall street executive, Max keiser, he strongly believed that altcoins has reached there dead end and advised that everyone should focus on bitcoin. considering the fact that bitcoin is limited. there is the need for altcoins as the name implies, Alternative coins.
What is your say on this.
I think that the best analogy to describe altcoins is that bitcoin is a super highway and altcoins are the taxis and buses that are required to move funds around.
This is clearly shown through the fact that tether, in combination with other altcoins, has a greater trade volume than bitcoin itself. For this reason, I believe that altcoins will stay around for a very long time and will increase in value along with bitcoin. However, more education is required for altcoins before they are able to achieve a high value, mainly due to the fact that most people only know about bitcoin and are weary of other cryptocurrencies.
Bitcoin does have its flaws and these can be fixed with altcoins, that's why they will always exist and continue to increase in value.