Yes, it is possible to profit from the collapse of altcoins, but it requires a high level of risk tolerance and a thorough understanding of the market. One strategy is to short-sell the altcoin, which means borrowing shares of the coin and selling them with the hope that the price will decrease, allowing you to buy the shares back at a lower price and return them to the lender while keeping the difference as profit. However, the downside of this strategy is that if the price of the coin increases, you will incur a loss.
Another strategy is to hold Bitcoin instead of altcoins, as it is known as a haven asset in crypto market during market downturns and market crisis, where people tend to move their assets to Bitcoin instead of other altcoins.