I remember a day where BTC was king and all altcoins were lousy. They would all fail soon, and only BTC would survive. The market capitalizations of all altcoins was less than a tenth of BTC's. Times have changed! Today, the market capitalizations of all altcoins is more than 40% of BTC's.
Obviously, there is more and more money going into cryptocurrencies. BTC is still leading by far. BTC also remains the one and only crypto you can actually use to buy things, and it's the easiest to buy with a bank transfer. But it needs to get better quick. Investors now have a wide choice to put their money in, and that shows.
People always looking for a good and potential cryptocurrency for many purposes I guess, to make a faster transaction, to store their wealth but maybe the most as trading object.
I admit, we can't trivialize altcoins compare to bitcoin as it has advantages and features that bitcoin doesn't, that's why some coins began to rise and reach $100-$200.
In the end people convert back their alts into bitcoin as the most trusted and valuable coin, but it has some prolem to be fixed such as confirmation time which always increase over time simultaneously with the price.