Some per-requisites
- Bitcoin is difficult to buy from fiat in many places (most people struggle to quickly easily get bitcoin at value)
- Most alt-coin (eth,lite,doge,sia..etc) investment on exchanges passes through bitcoin (where the underlying value is assumed in market cap)
- Bitcoin is even more difficult to sell in many places for many people (Use in transactions or transfer to fiat)
You could say its a one way street: fiat > bitcoin > alt-coins > VCs, ICOs, etc..
This is how I explain bitcoins ability to both lose market dominance and to keep increasing - what a honey badger. At some point fiat and transactions will be possible for crypto the market cap at that point in time will make the honey badger look like a cuddly toy
I'm going to go out on a limb and say bitcoin will begin to lose market dominance and lose value against fiat such as USD : it doesn't have lightning transaction fee time, it is slow, its is pricey to exchange, it is not private, it is not accountable, its community is split, and it is massive drain on energy and resources when being mined
But isn't bitcoin a bit like gold? NO!, gold is like gold - bitcoin is like bitcoin they are different beasts in different environments.
This is what I think in my small universe, I'd love to hear anyone disagree with me.
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