The following Bitcoin Dominance chart displays Bitcoin’s portion of the total cryptocurrency market capitalization.
Currently, Bitcoin has 49% of the crypto market cap.
The SEC has continued their crackdown on exchanges for selling and trading in unlicensed securities.
The SEC has labelled several altcoins as securities.
I believe a case can be made for most/all the altcoins to be given this label.
Bitcoin, on the other hand, has been considered a commodity.
The chart pattern above is poised for a significant move higher.
A substitution of altcoins for Bitcoin is logical.