The blockchain and cryptocurrency market is an extensive market. I don't see any reason why the presence of altcoins is the major drawback for Bitcoin's global image if investors themselves educate themselves about cryptocurrency investment.
I know you see altcoin as a drawback for BTC's positive global image due to some scam, rug pull, etc done by some altcoin team. However, this is expected in a market that is full of opportunity.
It's the investor that needs to wise up.
Blockchain is a technology and it used by Cryptocurrency. It is not a market but cryptos can be. Coins other than BTC doesn't affect BTC but it was the BTC rather that influence them. I am talking about the price there but in terms of reputation then maybe they can affect BTC. I don't know why they termed BTC as a safe haven when the truth is that it is not immune to some hazards including the crisis that the world is currently experiencing now.
Yes, blockchain is a technology, not a market. However, it is not only used by cryptocurrency because it's also an important technology to medical practitioners, banking institutions, security, etc.
I don't know others but when people like said BTC is a safe haven, I simply mean it is the best cryptocurrency investment but that doesn't it being the best won't experience some challenges and the crisis the world is currently experiencing now won't have had much impact on BTC if we're not in bearish season.
I feel like it is used mainly in crypto and that is a good enough reason. I am not saying that it is the only way to make money or anything, but blockchain is not really widely used in all other places, it is mainly used in these places and that's normal.
For now, blockchain is mainly used in the cryptocurrency space because its potential was known by the world through crypto, and in the future, more enterprises will make use of blockchain for data storage, security, voting, etc.
Have you wondered why all governments choose to acknowledge blockchain? They are doing some research on how to make use of it in the medical, security, and election voting specialization.
I feel like the best thing to do right now is to invest into things that have either good blockchain used by millions just like bitcoin, or if you want to invest into something new, then make sure that they have some improvement and something better with their blockchain, something that has the same as everyone else, literally copycat, doesn't mean it will be good, nothing like that could ever be good in the long run.
If you're a risk taker who's also an altcoin enthusiast. I believe the best thing to invest in right now is altcoins that did well in this bearish market because they are literally good for the next few year's market.
Just like CZ said "bear expose weak coin"
