Now more and more altcoins are being developed seriously and with strong financial support, and of course it will disrupt bitcoin market capitalization, and the downward trend of marketcap certainly cannot be stopped, and with this fact of course in the next 5 years there will be several competitors who will replace bitcoin.
And I think as investors we will not be too affected by this, the most important thing is to be able to benefit from bitcoin or altcoins.
Topic: does the increasing number of altcoins have a negative impact on the price btc - page 3. (Read 1159 times)
February 16, 2023, 05:56:49 AM
February 16, 2023, 03:50:26 AM
The increasing number of altcoins will of course reduce the bitcoin marketcap, 5 years ago the bitcoin marketcap was more than 60%, but now there is only about 32% left, especially after the presence of several stable coins which have now beaten bitcoin's daily transaction volume, but the other side is that bitcoin is still be king and I'm sure it will last for a long time.
This seems to be true, in 2017, bitcoin's market capitalization accounted for 80% of the total market cap, but so far bitcoin's dominant market cap is 41%. Bitcoin dominance is up and down year by year, but in the long run, it is being influenced by altcoins. If altcoins continue to explode further and bitcoin dominance continues to fall, it is not yet sure if this is a good or bad thing. Once bitcoin dominance is gone, market movement will no longer depend on bitcoin.
February 15, 2023, 11:34:17 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.
there are already more than 10 thousand altcoins circulating on the market and it doesn't affect the price of bitcoin at all, in fact it's a good thing for bitcoin because of the pairing of btc, and the new altcoin. bitcoin is the benchmark of the cryptocurrency market and until whenever its price will not be damaged just by the increase in the number of altcoins. 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.
February 15, 2023, 11:11:26 PM
The increasing number of altcoins will of course reduce the bitcoin marketcap, 5 years ago the bitcoin marketcap was more than 60%, but now there is only about 32% left, especially after the presence of several stable coins which have now beaten bitcoin's daily transaction volume, but the other side is that bitcoin is still be king and I'm sure it will last for a long time.
February 12, 2023, 07:24:34 AM
These altcoins are bringing down the trust on bitcoin since a lot of people that don't understand crptocurrency bitcoin, invest in them and do get disappointed.
I don't think so, altcoins are raising the bar for bitcoin, the more altcoins disappear, the more it proves that there is no better and safer coin than bitcoin in the crypto industry. Although the death of altcoins will somewhat negatively impact bitcoin as many people don't know the difference between them but in the long run, it turns out that bitcoin is the most unique and reliable.
Many people hate altcoins as they keep crashing, but to me, that's normal as we are in a growth phase, and we need to make sacrifices to make greater progress.
February 12, 2023, 04:49:12 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.
OP like you rightly said, the increasing numbers of altcoins on daily basis has no atom of effect on BTC not to speak of one that's negative. On the contrary it's BTC price that does affect and has influence on the performance of most of these altcoins, when BTC price rises those altcoins follow suit, same with when it falls. 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 can't be compared with BTC in terms of value through the test of time, as these altcoins just flash into the market and disappear within a very short time and that's unlike bitcoin.
February 12, 2023, 01:29:57 AM
Bitcoin price will not drop because of all the altcoins that is in the market. Altcoins are shitcoins with zero percent value in the long run. The bull market of bitcoin brings their value down which make most people see it as valueless. These altcoins are bringing down the trust on bitcoin since a lot of people that don't understand crptocurrency bitcoin, invest in them and do get disappointed.
The impact of altcoins can affect the market price ups and downs even if only for certain news, for example Luna impact and FTT have dropped the market to as low as $15k, the current altcoin project is very bad because there is no guarantee it can be developed long term and many teams end up selling coins to the market before they run away, so I agree that altcoins only worsen investor confidence in crypto.I think it's a different impact though, for me it has an impact as a whole. I was under the impression of the question
"does the increasing number of altcoins have a negative impact on the price btc"
So I would say no, it has no effect whatsoever, bitcoin is a stand alone crypto, heck it is even called the prime mover on the market. So if there is a impact, it should be the other way around. Every crypto is based on bitcoin, i.e. bitcoin/ X altcoin.
For altcoin is a free for all market, in my opinion and no where as solid as bitcoin and they are riskier as well.
February 11, 2023, 05:35:11 PM
Bitcoin price will not drop because of all the altcoins that is in the market. Altcoins are shitcoins with zero percent value in the long run. The bull market of bitcoin brings their value down which make most people see it as valueless. These altcoins are bringing down the trust on bitcoin since a lot of people that don't understand crptocurrency bitcoin, invest in them and do get disappointed.
The impact of altcoins can affect the market price ups and downs even if only for certain news, for example Luna impact and FTT have dropped the market to as low as $15k, the current altcoin project is very bad because there is no guarantee it can be developed long term and many teams end up selling coins to the market before they run away, so I agree that altcoins only worsen investor confidence in crypto. February 11, 2023, 11:42:37 AM
Yes, it's quite obvious. Each dollar in an altcoin (I am speaking specifically about the 99.9% of which that are proven scams not the .1% of interesting projects) represents a dollar that is protecting centralized, government funded, VC funded, inflationary, bloated, closed source, cryptographically-insecure, and morally reprehensible code. All of that money could be in bitcoin, ~ 600billion dollars will be funneled directly to the top of the big bankers pockets through centralized scam coins instead of making bitcoin a 1 trillion dollar market cap asset valued at 60k.
February 11, 2023, 11:33:08 AM
Bitcoin price will not drop because of all the altcoins that is in the market. Altcoins are shitcoins with zero percent value in the long run. The bull market of bitcoin brings their value down which make most people see it as valueless. These altcoins are bringing down the trust on bitcoin since a lot of people that don't understand crptocurrency bitcoin, invest in them and do get disappointed.
Bitcoin is the most valuable crptocurrency and has survived since 2009 till date which makes it more unique and resistance to whatever economy challenges in the world. Bitcoin investment needs patient for benefits but your patient on altcoins might lead to you losing all your investment.
Bitcoin is the most valuable crptocurrency and has survived since 2009 till date which makes it more unique and resistance to whatever economy challenges in the world. Bitcoin investment needs patient for benefits but your patient on altcoins might lead to you losing all your investment.
February 07, 2023, 03:03:34 PM
When there is a reasonable level of regulation, the number of shitcoins will decrease significantly, which could have a positive effect on the entire cryptocurrency market. However, I personally doubt the reasonableness of regulators because they like to go from one extreme to another
February 07, 2023, 02:15:50 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.
Yes it wouldn't affect Bitcoin no matter how many alt-coin might be created the original would always be on top.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 doesn't matter how many alt-coins are out there most of them doesn't really have a value.
The only negative impact of those alt-coin in Bitcoin is that newbies that would get scammed by those shitcoin would generalized all of crypto as scam.
February 01, 2023, 11:57:50 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.
Here we can take into account that it will indirectly affect the price of bitcoin, the reputation and existence of bitcoin in the long term.
As we can see, market movements are driven by bitcoin movements, in general, it is rare for other coins to stand alone and there has never been a history of bitcoin charts following altcoin charts. That's probably the point Altcoin growth doesn't affect Bitcoin.
But if you look at it from another angle, what Altcoin founders are doing, they always create events and bring new ideas to attract investors into the crypto market and maybe vice versa for a certain period of time.
In my opinion, there are positive and negative Altcoin growth for bitcoin in terms of price and existence which is made from the existence of good or broken Altcoins because bitcoin will be considered the safest and most trusted even though it takes a long time.
February 01, 2023, 07:50:57 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.
Yes it wouldn't affect Bitcoin no matter how many alt-coin might be created the original would always be on top.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 doesn't matter how many alt-coins are out there most of them doesn't really have a value.
The only negative impact of those alt-coin in Bitcoin is that newbies that would get scammed by those shitcoin would generalized all of crypto as scam.
February 01, 2023, 05:59:34 PM
A strong altcoin is not harmful to Bitcoin. But shitcoins and scam coins are a nightmare for the entire crypto sector, not just for Bitcoin. because people are losing money and money ended up in the scammer's wallet. And 98% of the altcoins on the market right now are scams. The funds are not being used for development or expansion. Due to the decentralized nature of cryptocurrencies, fraudsters can quickly establish a token and raise money. The primary threat to the cryptocurrency business is that.
Scam coins and fraud ones do bring out that kind of negative effect but it would really be just for temporal since we do know that prices could still reach up potential prices which we do know that it might reach up all time highs on net years to come.It might not be that guaranteed but at least we do have that chances and potential that it could reach up into that point.Therefore, theres no point for you on stressing out yourself on something which arent really giving out some impact towards Bitcoins price increase potential.We do have lots of altcoins in the market but still Bitcoin does have the huge dominance all over themwhich does solidly signifies that people do stick mainly into it and been trusting up more.
February 01, 2023, 05:48:34 PM
Of course not, there is just a general distribution of investments between bitcoin and alts in general. Bitcoin just gains and loses dominance and this money distributes between all alts and it doesn't really matter how much there is.
I also think that there is no greater impact for Bitcoin in terms of price with more altcoins present in the crypto space. Because in general Bitcoin is a currency that is very well known by many people so that its dominance will never be lost in the market and also in the memories of many people when they are in the crypto space. And I often even see the opposite where the price of Bitcoin can be a good influence for altcoins in the market so in general it is the altcoins that have a very positive impact on the price through improving the price of Bitcoin in the market.
February 01, 2023, 05:14:38 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.
There are people who know other cryptocurrencies, Alts and then bitcoin, perhaps that is where this concern can arise, so, when one is clear that bitcoin is the main cryptocurrency, it is that I do not even look what is happening down there, an order hierarchical, if we highlight what exists in a top as they are usually projected on web pages or exchanges, then! perhaps a little exaggerated, but sometimes weeks go by and I don't even look at the top 10.
Hence no matter how many Alts there are, an influence occurs that is produced by bitcoin.
February 01, 2023, 04:57:28 PM
the advice and input from everyone is very useful for me and also for everyone, so in conclusion bitcoin will not be affected its price even though the number of altcoins is increasing.
That is right, you should understand that the numbers given as the market cap for altcoins are for the most part huge exaggerations, if an altcoin has one billion coins as its supply and one of them sold for a dollar suddenly the claim is made that this coin has a market cap of one billion dollars, and it should be clear this is not true, with this in mind it makes no sense to worry about so many altcoins being released as nothing can be done about this since anyone is free to release their own coin if they want, but just as they are free to do this the community is free to ignore that coin if they want too. February 01, 2023, 03:10:52 PM
A strong altcoin is not harmful to Bitcoin. But shitcoins and scam coins are a nightmare for the entire crypto sector, not just for Bitcoin. because people are losing money and money ended up in the scammer's wallet. And 98% of the altcoins on the market right now are scams. The funds are not being used for development or expansion. Due to the decentralized nature of cryptocurrencies, fraudsters can quickly establish a token and raise money. The primary threat to the cryptocurrency business is that.
February 01, 2023, 02:45:31 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.
I don't think it does because even if we have like billion of alternative coins on the market still this won't affect the bitcoin price that much and the only reason to say this will somehow affect the price of bitcoin is the shitcoins on the market which will make a bad reputation for the market, this way people who have not any knowledge about bitcoin and cryptocurrencies may think all the cryptocurrencies are bad and will have a negative effect in the market environment will this won't directly affect on bitcoin and bitcoin price.
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