Keiser said that with the development of the cryptocurrency space and adoption of Segregated Witness (Segwit) and the Lightning protocol, people began to better understand the store of value bitcoin offers, as well as scaling that would happen off chain. This, per Keiser, made crypto owners move their funds back into “the most secure chain [bitcoin].”
Keiser further projected that altcoins are going to pennies or even out of existence, because “all that cash is going to flow into bitcoin.” He reasoned that with bitcoin’s market current dominance 60% — which Keiser purports could go to 80%–90% — “the altcoin phenomenon is finished,” he stated.
Recently, veteran trader and author Peter Brandt predicted that bitcoin will continue to grow but altcoins will not feel the benefits. Brandt said that unlike the previous bull market cycle in 2017, bitcoin’s gains would not have a knock-on effect elsewhere. He summarized, “Cryptomaniancs expect alts to do so again — they may be very disappointed.”
In late June, ThinkMarkets chief market analyst Naeem Aslam