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 do not think that such a statement is true. Altcoins are very diverse in their useful functions and Bitcoin in this regard is simply not able to replace them all. In addition, many altcoins in terms of functionality have already far surpassed bitcoin. The current situation with falling prices for altcoins is, of course, largely due to the price dominance of bitcoin. However, I do not think it will last very long. Over time, the market should solve this problem. Altcoins have not reached an impasse, they have been forcibly driven there, but they are capable of much more.