I've been trying to tell people this for a long time. People think they're hot shit by making calls in a bull run and now their new found confidence is taking them out of their circle of competence.
If you're involved in any communities at all, you will realise 90% if not more, are just idiots. Chasing the next pump, promoting coins they have no idea about, they are promoting/shilling to increase the price so they offload their bags. This market is horrendous and people are getting burned. The best example of this is the Bitcoin Diamond pump happening right now, imagine the people that bought at the top. They are literally going to lose 90% of their purchase value.
Anyway, that's my rant over. I have a question for you. When the bubble bursts (noticed I said when and not if), do you see Bitcoin leading the dive? Currently my view is, this alt coin bubble is going to burst first. I see this happening with the rise of Bitcoin rather than the fall of Bitcoin. This altcoin madness is attributed to the somewhat stable value of Bitcoin and literally needs to come to an end. There are well known scam coins in the top 100 right now.
It's tough to say, but yes I have slated myself on the side of saying that altcoins will shift to Bitcoin ultimately and that even if the cryptocurrency market cap as a whole goes down, Bitcoin could go up. It would require some sort of catalyst likely, but I am confident it will happen at some point (the market dominance of Bitcoin returning to 50%). Unfortunately, if this altcoin boom continues, I may end up being "right" but at the "wrong" time, which many characterize as being flatout wrong. I'll still commit to that opinion though because I just can't bring myself to commit to altcoins continuing their run, although I'm heavily invested in a few picks that I like. Eventually when the whole bubble bursts, all will go down, but Bitcoin likely less than others on a percentage basis.