Completely agree with most of what you wrote here.

I view alt-coin trading like shorting the VIX in equity markets. When there isn't much volatility in the underlying asset, shorting the VIX is a winning strategy. However, when volatility comes back, there is a magnified impact on the VIX and the spike will crush the strategy.

Similarly, in crypto makets BTC is the underlying asset, which has been range bound for the past two weeks. In those two weeks, Altcoins have had a huge run and the Altcoin minimalists think they're geniuses. It's just a matter of time until the next BTC move and Altcoins get crushed.