I would tend to agree, we have had a bit of a crypto-fad based upon late adopters wanting to emulate the 'success' of Bitcoin, but with most of them amounting to nothing but pump n dump schemes. From what I can tell, 99% of them will have proven bad investments for the majority of people who invested in them. Aside from opening pump n dump phases, nearly all of them are trading down against Bitcoin, which itself is down. Fads come and go. Alt-coin fad has come, now is as good a time as any for it to go. Fuck You Bill Still and those 3500 Quark I bought on the strength of your recommendation at the height of the mania........was making so much money at the time, I didn't give a shit whether I lost or won with them, but now, I would rather have my 0.5 BTC back, which has itself halved in value since then.
Recently however, for about the first time I can remember, Bitcoin and Litecoin have went in opposite directions. Fuck all the other alt-coins. If there is another viable alternative at this point in time it is Litecoin and perhaps Litecoin is going in completely different direction from Bitcoin at the moment because Litecoin hasn't had all the corruption and theft that Bitcoin has suffered and perhaps most crucially, There isn't anyone sitting out there with hundreds of thousands of stolen or seized Litecoins, looking for good opportunities to dump them on the market?
I find that LocalBitcoins can be a good acid test for demand in the real non trading economy and from what I can see, the UK traders are cutting their own throats right now. 2%-3% premiums over Stamp. Considering that most UK based people have to pay 3% - 5% premium to convert GBP into a currency that can be used on an exchange, this tells me that there is a huge supply of Bitcoin in off exchange economy and not too much demand. Again, in a market saturated with stolen coins trying to cash out without being detected as stolen coins, this is the sort of scenario that I would imagine with LocalBitcoins, and a scenario that could go on for a very long time, as traders slowly scrape some very thin slices of arbitrage from a steady leakage of stolen Bitcoin looking to convert into Fiat.