Topic: does the increasing number of altcoins have a negative impact on the price btc (Read 1159 times)
May 10, 2023, 04:48:23 PM
I believe it has a positive impact. The variety of coins makes crypto more appealing to the masses, especially all of these Meme coins. A lot of retail won't get into bitcoin, but they will buy Doge or PEPE. Eventually as they learn more they will switch to bitcoin but alts are needed to lead them to the king
May 10, 2023, 04:36:15 PM
The presence of many altcoins certainly makes the bitcoin market cap less and less, especially now that there are more and more large projects that are supported by strong finance and are connected to many exchanges so that they can easily control bitcoin. the stable presence of coins is proof that now trading with bitcoin pairs is decreasing.
The presence of altcoins can positively and negatively affect bitcoin, not all of it bad. More and more altcoins are sure to influence bitcoin dominance, this is seen when years ago, bitcoin accounted for 80% of the market cap, but now bitcoin dominance is only half the market. But the flip side is that even if there are millions of altcoins created, there is still not a single altcoin that can outperform bitcoin. That shows that bitcoin is still the best coin, worth using and investing in the market. Bitcoin is still the king in the market, although many altcoins claim to own new technology, new features, and utilities…but they all have to kneel under bitcoin.
course they would be trying out to create something which is really basing up on the flaws on the current coins that having on the market on which they would really be tending to be much more better.
As we do speak about Bitcoin then we do know its flaws and lacking and this is where altcoins would be kicking in and trying to patch up those con's but since we've seen that despite of its con's
its still mainly been supported by the community. Why? Nothing beats out the origin of crypto but wont really be surprised if ever one day there would really be some flip out.
Just let those coins floating around on the space on which to those who do have real use case would be able to survive and a couple of shitcoins or meme coins on this space.
Its better to have other options for us to deal with and not just solely focusing on Bitcoin but well there's no way on stopping that though even if we do like to.
May 10, 2023, 02:45:31 PM
will the increasing number of altcoins affect the price of bitcoin,?
I once, read regarding your question, with the title: The Top 7 Most Influential Factors on Bitcoin PriceIn the seven factors above, I see the one you mentioned is included in that category.
Quote
Competing Cryptos
The rise of competing cryptocurrencies, also known as altcoins, can influence the price of Bitcoin. As new coins enter the market, they may draw attention and investment away from Bitcoin.
The rise of competing cryptocurrencies, also known as altcoins, can influence the price of Bitcoin. As new coins enter the market, they may draw attention and investment away from Bitcoin.
Conclusion:
Quote
However, Bitcoin’s status as the original and most well-known cryptocurrency can also benefit its price, as it often acts as a gateway for investors entering the crypto market.
May 10, 2023, 12:10:08 PM
I'm still a beginner in crypto, as we know from time to time the number of altcoins is increasing, but I want to ask,
will the increasing number of altcoins affect the price of bitcoin,?
but in my opinion it will not affect the price of bitcoin, even though the number of altcoins is increasing.
Altcoins and Bitcoins are completely different. It doesn't matter how large the number of altcoins in the market, there will be no natural impact on it. But the negative impact of some top level altcoins can effect bitcoin price temporarily. We all were able to see a big fall of Altcoins like Luna and FTX. Due to which Bitcoin price affected temporarily. But there are many altcoins that are created and die that have no effect on Bitcoin or cryptocurrency. It is important to remember that there are many altcoins but there are very few good projects actively trade in the market. And that's why no matter how many altcoins increase, it won't have any impact on the market. will the increasing number of altcoins affect the price of bitcoin,?
but in my opinion it will not affect the price of bitcoin, even though the number of altcoins is increasing.
May 10, 2023, 10:26:30 AM
I'm still a beginner in crypto, as we know from time to time the number of altcoins is increasing, but I want to ask,
will the increasing number of altcoins affect the price of bitcoin,?
but in my opinion it will not affect the price of bitcoin, even though the number of altcoins is increasing.
it has nothing to do with it at all, precisely with the increasing number of altcoins, it means that the adoption of crypt globally has increased, but the problem is that the number of altcoins that are increasing in the market does not indicate that the crypto market is growing well, it could be that most of the altcoins that appear today are shitcoins , which was launched only to create hype in the market.will the increasing number of altcoins affect the price of bitcoin,?
but in my opinion it will not affect the price of bitcoin, even though the number of altcoins is increasing.
Sure most of them are shitcoins I agree with that, 99% of coins out there today are shitcoins, interestingly there are more coins not listed on CMC than the ones listed, and there is like 15k+ coins listed there, so that means there are 50k+ coins out there, and I would vouch for like maximum of 10 of them, the other 49990 are all shit. And yet, I still support they should exist because that means we are on the right track and that does mean that it is going to a right direction and should not be an issue.
May 09, 2023, 07:35:51 AM
I'm still a beginner in crypto, as we know from time to time the number of altcoins is increasing, but I want to ask,
will the increasing number of altcoins affect the price of bitcoin,?
but in my opinion it will not affect the price of bitcoin, even though the number of altcoins is increasing.
will the increasing number of altcoins affect the price of bitcoin,?
but in my opinion it will not affect the price of bitcoin, even though the number of altcoins is increasing.
it has nothing to do with it at all, precisely with the increasing number of altcoins, it means that the adoption of crypt globally has increased, but the problem is that the number of altcoins that are increasing in the market does not indicate that the crypto market is growing well, it could be that most of the altcoins that appear today are shitcoins , which was launched only to create hype in the market.
May 09, 2023, 04:49:16 AM
The presence of many altcoins certainly makes the bitcoin market cap less and less, especially now that there are more and more large projects that are supported by strong finance and are connected to many exchanges so that they can easily control bitcoin. the stable presence of coins is proof that now trading with bitcoin pairs is decreasing.
I don't know how you think about altcoins and Bitcoin in terms of market capitalization, even though you have been in this forum for a long time and of course you have known Bitcoin for a long time until now. But somehow you value a project and altcoins and Bitcoin so today you say it is. To me this sounds a little funny, because of the thousands of altcoins, none of them has been able to rank first as the best cryptocurrency on coinmarketcap and coingecko.
This means that all altcoins don't have as many enthusiasts as Bitcoin so that the transaction volume of altcoins is still far behind Bitcoin so there is no reason whatsoever for new projects or altcoins to control Bitcoin in any way in the market even though they have many partners with stablecoins in the market. And I think that Bitcoin currently has a lot of pairs and cannot be beaten by any altcoin (including new altcoins).
May 09, 2023, 04:06:58 AM
The presence of many altcoins certainly makes the bitcoin market cap less and less, especially now that there are more and more large projects that are supported by strong finance and are connected to many exchanges so that they can easily control bitcoin. the stable presence of coins is proof that now trading with bitcoin pairs is decreasing.
The presence of altcoins can positively and negatively affect bitcoin, not all of it bad. More and more altcoins are sure to influence bitcoin dominance, this is seen when years ago, bitcoin accounted for 80% of the market cap, but now bitcoin dominance is only half the market. But the flip side is that even if there are millions of altcoins created, there is still not a single altcoin that can outperform bitcoin. That shows that bitcoin is still the best coin, worth using and investing in the market. Bitcoin is still the king in the market, although many altcoins claim to own new technology, new features, and utilities…but they all have to kneel under bitcoin.
May 08, 2023, 11:50:45 PM
The presence of many altcoins certainly makes the bitcoin market cap less and less, especially now that there are more and more large projects that are supported by strong finance and are connected to many exchanges so that they can easily control bitcoin. the stable presence of coins is proof that now trading with bitcoin pairs is decreasing.
May 06, 2023, 06:26:36 PM
well sometimes it did, there are some cases when many of btc holders are buying up some altcoins to not miss some chance of flipping their investments.
like the case with sui, i've seen many that outright converted their bitcoin to usdt just to get that share of sui IEO, but i don't think the effect is that much significant.
after all. bitcoin market domination is huge, its trading volume is tremendous I don't think some measly altcoins with significantly lower dominance will ever scratch the market capitalisation of bitcoin, so it did have negative impact sometime but just not that significant.
like the case with sui, i've seen many that outright converted their bitcoin to usdt just to get that share of sui IEO, but i don't think the effect is that much significant.
after all. bitcoin market domination is huge, its trading volume is tremendous I don't think some measly altcoins with significantly lower dominance will ever scratch the market capitalisation of bitcoin, so it did have negative impact sometime but just not that significant.
May 03, 2023, 06:58:39 PM
Bitcoin is just on its own and is the overall driver of this crypto market and its technology cannot be competed with any altcoins out there, Bitcoin is the only true decentralized crypto that we have there. The crypto industry is just like a race that involves survival of the fittest, regardless of the increasing number of altcoins, only few with use cases will really stand the test of time, because the next bull is gonna be base on the utility run , if Bitcoin moves potentially almost every other coins follow suit. So I see no negative impact that the altcoins have on BTC.
Agreed, it is an independent market. For that reason bitcoin continue to stay on its growth path unlike the existence of large number of altcoins. The altcoins serve as a competing factor as well gives the users the choice on investment. It is evident that there are good altcoins that can be trusted, however the risk used to be higher than investing in bitcoin. Because the bitcoin market is already proven whereas the altcoin market isn't. Some altcoins used to give high ROI, but we need to be lucky to invest in it. Altcoins doesn't have any negative impact over the price of bitcoin. May 03, 2023, 06:22:14 PM
Absolutely not, and to be honest most of altcoins die after few months of launch. At the beginning, they create a HYPE to attract sellers specifically the greedy and beginners, afterward they pump their coins with fake volume and this bull run always last few hours after that the price decreases significantly and goes to 0. In fact, Bitcoin is not negatively affected by the number of altcoins, due to the majority of traders and investors especially the expert ones and whales don’t take the risk and give attention to these dead and scam coins. In fact, the lifespan of 90% of altcoins is temporary , they can last only few months.
I think on the contrary, if there weren't so many altcoins created, people would focus mainly on bitcoin, and that would make bitcoin more valuable. Bitcoin is experiencing increased competition from altcoins, so being hit is inevitable. Think most newbies don't want to invest in bitcoin, they just invest in altcoins to get rich quick. But if all newcomers invest in bitcoin, causing demand to increase, then bitcoin will grow even more.
May 03, 2023, 06:07:18 PM
Bitcoin is just on its own and is the overall driver of this crypto market and its technology cannot be competed with any altcoins out there, Bitcoin is the only true decentralized crypto that we have there. The crypto industry is just like a race that involves survival of the fittest, regardless of the increasing number of altcoins, only few with use cases will really stand the test of time, because the next bull is gonna be base on the utility run , if Bitcoin moves potentially almost every other coins follow suit. So I see no negative impact that the altcoins have on BTC.
May 03, 2023, 06:02:33 PM
No, the growing number of altcoins has no effect on the price of BTC. Even the growing number of ERC tokens created on Ethereum has no effect on the price of ETH.
May 03, 2023, 05:14:05 PM
Absolutely not, and to be honest most of altcoins die after few months of launch. At the beginning, they create a HYPE to attract sellers specifically the greedy and beginners, afterward they pump their coins with fake volume and this bull run always last few hours after that the price decreases significantly and goes to 0. In fact, Bitcoin is not negatively affected by the number of altcoins, due to the majority of traders and investors especially the expert ones and whales don’t take the risk and give attention to these dead and scam coins. In fact, the lifespan of 90% of altcoins is temporary , they can last only few months.
May 03, 2023, 02:13:22 PM
I'm still a beginner in crypto, as we know from time to time the number of altcoins is increasing, but I want to ask,
will the increasing number of altcoins affect the price of bitcoin,?
but in my opinion it will not affect the price of bitcoin, even though the number of altcoins is increasing.
will the increasing number of altcoins affect the price of bitcoin,?
but in my opinion it will not affect the price of bitcoin, even though the number of altcoins is increasing.
yes of course it will not affect the price of Btc even though many altcoins are launched. I think with so many good Altcoins being launched it will make a lot of people more interested in Crypto. of course some of them will also invest in Bitcoin, thus the price of Bitcoin will increase in my opinion
and would be creating something in likes of Bitcoin and now we've been flooded out by lots of projects who are really that tending to get that marketshare.We've been flooded out by shit coins but look at on where or what happened on Bitcoin? It doesnt really depend no matter how much coins been existing on the market on where its dominance would really be still ahead just because the demand and recognition would always stick into the original or father of all crypto which is Bitcoin. It would be no surprise on why its been placed up on the top spot.
Market dominance had been divided which it is really that something good to look at because investors could really have various options and selections
which they could be able to make when diversifying out their investment which its really that an advantage.
May 03, 2023, 04:58:54 AM
I don't think so. There are a lot of altcoins in circulation and all of them can be traded directly, but the altcoin is just another piece of paper that is not used for trading, and therefore does not mean that the value will change.
The main reason why people still get a lot of coins is because of
The main reason why people still get a lot of coins is because of
The presence of altcoins, of course, must be admitted to reduce the marketcap of bitcoin, even though at this time bitcoin is still king but more and more people are also investing in altcoins, huge profit opportunities are of course the main reason why people want to share assets into altcoins, besides that the presence of altcoins makes more variations.
May 02, 2023, 05:37:45 AM
I don't think so. There are a lot of altcoins in circulation and all of them can be traded directly, but the altcoin is just another piece of paper that is not used for trading, and therefore does not mean that the value will change.
The main reason why people still get a lot of coins is because of
The main reason why people still get a lot of coins is because of
March 12, 2023, 04:05:07 PM
I'm still a beginner in crypto, as we know from time to time the number of altcoins is increasing, but I want to ask,
will the increasing number of altcoins affect the price of bitcoin,?
but in my opinion it will not affect the price of bitcoin, even though the number of altcoins is increasing.
will the increasing number of altcoins affect the price of bitcoin,?
but in my opinion it will not affect the price of bitcoin, even though the number of altcoins is increasing.
yes of course it will not affect the price of Btc even though many altcoins are launched. I think with so many good Altcoins being launched it will make a lot of people more interested in Crypto. of course some of them will also invest in Bitcoin, thus the price of Bitcoin will increase in my opinion
March 05, 2023, 01:22:06 PM
I'm still a beginner in crypto, as we know from time to time the number of altcoins is increasing, but I want to ask,
will the increasing number of altcoins affect the price of bitcoin,?
but in my opinion it will not affect the price of bitcoin, even though the number of altcoins is increasing.
will the increasing number of altcoins affect the price of bitcoin,?
but in my opinion it will not affect the price of bitcoin, even though the number of altcoins is increasing.
yes of course it will not affect the price of Btc even though many altcoins are launched. I think with so many good Altcoins being launched it will make a lot of people more interested in Crypto. of course some of them will also invest in Bitcoin, thus the price of Bitcoin will increase in my opinion
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