I have heard many people say that the end of Bitcoin is approaching and that some other cryptocurrency will replace it as the leading one (one that has been mentioned many times in the last tree weeks, before it signifficantly fell in price was Ripple, also many believe that Ethereum will overcome Bitcoin as the leading crypto).
But I do not think that is the case. Do not get me wrong though, I am not saying that Bitcoin will persist as the number one cryptocurrency by market capitalisation for long, but I am also not saying that any other currency will take it's place, nor am I saying that Bitcoin will soon be gone forever.
What I am trying to explain here, is that what we are seeing right now is a distribution of funds in the cryptocurrency space. Bitcon's market share in percentages is falling, while altcoins are rising in value. But nevertheless Bitcoin still has the first mover advantage, therefore it acts as a representative of the whole market. If Bitcoin falls significantly, other coins follow.
A recent event I want to point out to you is this huge dip that has been happening for the past two days, I am sure you have noticed that Bitcoin's market share has risen, despite falling in price. People still believe in the leading cryptocurrency, that is why it has fallen less than altocoins. (As you can see in the picture, bellow Bitcoin is gaining dominance despite the dip).
Guys, this is just my opinion. Please let me know yours.