I think your on point with this. After Aug 1st I think we will see a big boost in LTC and ETH. As I'm writing this LTC appears to be bouncing off a head and shoulders pattern with a breakout that should happen on the 1st or 2nd.
However LTC is not out of the woods just yet and it could still dump... Time will tell, but the alts will flourish when people cash to fiat. Just my 2c. :)
I'll be converting to LTC, and when BTC finds it's footing, convert back soon after.
Did this with the $1800 dump recently and played out very well. Why sell when I can increase my BTC size with very little loss. ;)
I feel like LTC is going to get left behind as it's just another pure currency unlike Ethereum. BTC or BCC will most likely remain the main pure crypto currency for a while until a newcomer (Nimiq, DGB, maybe LTC) can throw it off or it hits another blocksize problem. I'm curious about what you mean about alts flourishing when people sell them for fiat though.
I appreciated your .016 STEEM ;)