Topic: does the increasing number of altcoins have a negative impact on the price btc - page 4. (Read 1184 times)

Bitcoin price is the deciding factor, which means that we are not going to end up with altcoins moving by itself for far too long, one or two could make moves each day, but they will go down the next day to regular prices and another new one will go up, and keep repeating that. On the other hand a consistent increase will only happen when the price of bitcoin starts to go back up again.

This is why we believe that we are not going to end up with anything bigger, it is going to be something only dedicated to what bitcoin does. However, it would be always welcomed for me if we had a smaller number of great things, instead of tens of thousands of small unimportant projects.

The only way I think it will affect bitcoin price is that it's going to reduce the rate at which bitcoin price will be growing, some people will invest in altcoins because they believe it's going to multiply their money for them easily compare to if they invest in bitcoin, actually I believe only newbies will choose altcoins over bitcoin, because most of them are looking for where to easily double their money, that's why they are easily scammed, most of them don't really understand cryptocurrency. I think that's the only way that increasing number of altcoins can affect bitcoin.

I tend to agree with the op. Altcoins were a threat to Bitcoin's market capitalization in 2017, or so it seemed, but then Bitcoin because stronger during the bear market and is currently, many years later, at 40%, even though there were tons of new crypto things, including altcoins specifically, during this period. Altcoins were never a threat to the price, as people don't seem to choose between Bitcoin and altcoins as much as new people get involved and people invest more into cryptos, so there's plenty of demand to go around. Nowadays, I'd say they aren't much of a threat to Bitcoin's share of market capitalization either. Most new projects take up a tiny amount, and very rarely something new reaches significant heights. Even when that happens, it's more of a competition between altcoins than with Bitcoin.

Yes, right. So you don't need to worry about the many altcoins that will be released later. Bitcoin runs on its own and so do altcoins but altcoin prices follow where bitcoin prices go.

The price of bitcoin will be affected if there is news that makes people in the market think that something is going to happen to bitcoin and they come to their own conclusions. But if they want to check the truth of the news, it will often give them the opportunity to adapt to the situation in the market.

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.

Altcoins never have and will never affect the bitcoin price, even if their numbers increase further. The more competition there is, the higher the value of bitcoin will be, the value of Bitcoin will decrease if it encounters a stronger opponent, but that is unlikely.
The crypto market has been around for more than 14 years, and there is still no altcoin that can beat bitcoin, and that is also unlikely in the future when altcoins only focus on pumping and dumping, while bitcoin contains a utility, benefits that people need.

I dont think that increasing number of altcoin has a significant impact on Bitcoin price. Imo, there is a tiny impact, simply because trading cap is being spread on more cryptocurrencies. Bitcoins market cap is almost $450 billions, the altcoin with few dollars trading value and market cap mathematically has an impact on Bitcoin, but it is unnoticeable.

Draw a similarity between cryptocurrency and beverages. Where Bitcoin is Coca-Cola or Pepsi, and altcoins are all other sparkling drinks. Every week new drink appears in the market, but Coca-Cola or Pepsi are still on top and their price stays the same (if we dont take inflation into consideration).

I think on the contrary, without altcoins, bitcoin would never have been as valuable as it is today, and the market would not be as robust as it is today. Most market participants are mesmerized by the hype of altcoins, and when they lose money because of altcoins, they realize that bitcoin is worth investing in. Altcoins are hyped and die later, which further proves that bitcoin is the most reliable coin and worth long term investment. Bitcoin alone could not create a market as large as it is today.

Not much influence will occur, altcoins are only complementary, let alone altcoins that do not have good credibility and development, which only tend to take advantage at the beginning of some investors who enter and then leave the altcoin.

Many new altcoins become trash and die. So that altcoins will not have a big impact on bitcoin.
But conversely, Bitcoin will have a huge impact on all Altcoins if the bitcoin price is unstable.

The people who bought altcoins when the hype was early, were expecting huge returns with the pumping boom that was about to happen.
It has been a common practice since the ICO era, I even participated in several presale altcoin projects which provided quite large profits,
maybe 100x of the capital I used or even more.
Bitcoin comes first, if altcoins are less then bitcoin is always an option, Altcoins are just as complementary.

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.

Altcoins is altcoin and bitcoin is bitcoin so one will never have a negative effect on the other.  Bitcoin is a trusted and valuable crypto so no matter how many new altcoins hit the market, no one will ever jump on that new altcoin by ignoring Bitcoin. Yes many people are earning through trading business through altcoins and many are holding altcoins but everyone's first priority is bitcoin. So the constant influx of altcoins into the market is never a threat to Bitcoin.  Rather this is a positive point for Bitcoin.

People In the BTC industry always try to guess the situation or reason why BTC rose or fell, sometimes they say it is one positive or negative news, or Elon Musk, or the collapse of one centralized service, etc, but i've not heard about the increasing number of altcoins having a negative impact on BTC's price.

But if you think about it, if there were no altcoins, BTC would have more adoption because any person who wants to buy crypto would buy BTC, but many people are buying altcoins because they want returns very fast. I feel this is the only way to put it: altcoins somehow divides the industry and if it wasn't that way, more people would have probably invested in BTC, and the price may be higher than what it is now.

They definitely have an effect, but both positive and negative effects.


Negative effect: A lot of people first get into crypto to get rich quick. They hear about exploding prices and they start throwing money at it. These people used to throw that money at Bitcoin, but now Bitcoin is too big to 20x in a year or something so these people throw money into altcoins instead. That is money that otherwise may go into Bitcoin.

Postitive effect: But altcoins bring more people into the crypto space as well by expanding the scope of the industry to not just be money (bitcoin) but also apps (crypto aka ethereum and altcoins).

Negative effect: But some of these people never get educated on the space and just fall into the trap of thinking Bitcoin is old and outdated and they get stuck on altcoins that likely aren't going anywhere long term.

Positive effect: Eventually some of these people will get tired of losing money on altcoins and they'll realize they should have just been buying Bitcoin the whole time.

Negative effect: But Bitcoin's reputation gets muddied by it being associated with all cryptocurrencies in general so people don't have an idea of how different Bitcoin and Crypto are and they associate Bitcoin with the scammy, risky, high failure rate of altcoins.



But if you're just talking about the INCREASING amount of altcoins, like 30,000 altcoins instead of 5000 altcoins, for example, no I don't think the fact that there's many thousands of altcoins as opposed to a few thousand or a few hundred altcoins really matters. There's a ton of altcoins, the precise number of that ton of altcoins doesn't matter.

No matter how many altcoins appear, it will have no impact on the price of Bitcoin. On the contrary, altcoins will be affected by the price of Bitcoin and will follow the trend of Bitcoin price.

Bitcoin already has many users and the largest transaction volume, and many investors will choose Bitcoin as their first asset. While many altcoins in the market are scams, they don’t last long and the projects eventually disappear.

Even though the number of altcoins will continue to grow on the market, this will not make people reduce their interest in bitcoin because bitcoin is the king of all coins and so far if we look at it when beginners hear about Cryptocurrency for the first time then usually only bitcoin comes to mind their thoughts mean that bitcoin is the only Cryptocurrency that is very popular among the people.
The presence of altcoins has no impact on bitcoin prices, but basically almost all altcoins are very dependent on bitcoin price movements.

It’s great to know that being a beginner you have many doubts and you wanna clear it. But let me tell you the basic fundamental that the price of Bitcoin only depends on the users and their willing to use it. Generally the price of the coin increases only when the demand of the coin increases. In short due to the limited supply of Bitcoins, the price automatically increases to meet the consumer’s demand. You can easily notice it if you go to any trading platform and see that there are more buy orders then sell orders and at that time the price will also be high.

if we look at the price of bitcoin when the market is bear and when the market is bull, from the past until now in my opinion nothing has changed about the bitcoin cycle, even as time goes on the price of bitcoin is getting higher even though the number of altcoins is increasing,

surely people who are earlier than me in the crypto world, have experience and must have seen altcoins increase from time to time, but the price of bitcoin is even increasing, for example bitcoin has experienced a high increase in 2021.

Let's make a small comparison of the 2017 market, and the 2021 market can see the number of shitcoins has increased 10 times from 2000 shitcoins to over 20k shitcoins, according to CMC statistics. And the bitcoin price is steadily increasing and always hitting a new ATH after each halving, so it can be seen that no matter how much the number of shitcoin increases, it will never have a negative impact on the bitcoin price. On the contrary, it affirms the position of bitcoin, shitcoins are continuously created and disappear every year, and only bitcoin survives through the years.

as a beginner, of course you are definitely not experienced in bitcoin and crypto,
and this is a good and reasonable question.

indeed the number of altcoins is increasing but of course it will not affect the price of bitcoin, because most people invest in altcoins only for the short term, and for the long term most people still choose bitcoin. so adding altcoins certainly won't affect the price of bitcoin.

If many scam alt token creators will come then to many people invest with them maybe they can give a short term effect to the market since those scammers can actually dump millions of dollars in volume so provably it can move the market for a while. But that's temporary and there's nothing to afraid of since bitcoin could recover in anything happens to it since support is so strong with this coin.