Is the crypto market really inefficient or are we missing something?

traviszzz
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So like many of you, I slowly but surely realized that pretty much only bitcoin is serving a real need in a useful way and all other altercoins are scams. At the same time, I also believe in market efficiency theory. I think market is pretty efficient and is typically way smarter than me.

So then here is the dilemma, if the market is smart then the market should realize that all shitcoins are worthless and should trend toward 0. However that's not the case and bitcoin dominance is trending lower instead. It the market goes up, bitcoin doesn't go up as much as shitcoins. What is the explanation? What am I missing?