In the summer of this year, the dominance of bitcoin reached more than 70%, which indicates a loss of confidence among cryptocurrency holders to altcoins and other projects. But there have been successful new projects where there has been growth.
Look at today's market, altcoins have again fallen more than BTC. Of course bitcoin is the main cryptocurrency, but for the development of new projects it is necessary that its dominance decreased.
For the development of new projects, new investments are needed, and not the transfer of money from one crypto-coin to another. Holders simply transfer funds to a crypto that they consider more reliable.