Yes,
But it's not because the altcoins are more superior than Bitcoin, the reason is many people especially newbie doesn't understand anything about Bitcoin and they will buy a shitcoin because someone suggest it or the price is cheaper than Bitcoin. Actually they don't need to buy 1 Bitcoin because they can buy in fraction like 0.05 or 0.005 and such on.
Since there are many choice and people made a mistake to invest in shitcoin, Bitcoin price haven't surge a lot.
Topic: does the increasing number of altcoins have a negative impact on the price btc - page 6. (Read 1162 times)
January 31, 2023, 08:19:45 AM
January 31, 2023, 08:15:58 AM
will the increasing number of altcoins affect the price of bitcoin,?
If anything is going to have an effect on the other, It will be Bitcoins the superior having an effect on altcoins and not altcoins having an effect on bitcoins. It is common knowledge in cryptocurrency that bitcoin leads and strongly has an effect on the prices of all other cryptocurrencies. Even if the number of altcoins are on the increase which is something that will always happen, it cannot affect the price of bitcoins negatively. January 31, 2023, 07:55:27 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,?
No, It does not negatively affect the price of Bitcoinwill the increasing number of altcoins affect the price of bitcoin,?
Look at it this way, back in 2017, there were about 1000 different coins and tokens listed on CoinMarketCap. But this did not stop Bitcoin from hitting an all-time high of $20k. First forward to 2021, there were over 20K different coins and tokens listed on CoinMarketCap, again this did not stop Bitcoin from reaching 69K.
The only negative impact is token scams where very many newbies fall victims
January 31, 2023, 07:52:18 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,?
No, It does not negatively affect the price of Bitcoinwill the increasing number of altcoins affect the price of bitcoin,?
Look at it this way, back in 2017, there were about 1000 different coins and tokens listed on CoinMarketCap. But this did not stop Bitcoin from hitting an all-time high of $20k. First forward to 2021, there were over 20K different coins and tokens listed on CoinMarketCap, again this did not stop Bitcoin from reaching 69K.
The only negative impact is token scams where very many newbies fall victims
January 31, 2023, 06:48:26 AM
will the increasing number of altcoins affect the price of bitcoin,?
Not in anyway; at least not negatively. If anything, the numerosity of altcoins in the market will even help boost the price of Bitcoin. Let me draw a simple analogy with this. Just imagine if we've only two altcoins in the market and Bitcoin, the law of demand and supply will kick in and investors will be propelled to buy either of the two alts and that will solidly increase demand and consequently the price. Bitcoin price wouldn't even be where it's today with just two solid altcoins in the market instead of the 22,390 cryptos in the market according to CMC data. More people are turning to Bitcoin (against altcoins) and investing there because of the prevalence of scam altcoins there are in the market. This has helped increase the demand and price of Bitcoin. 
January 31, 2023, 06:44:24 AM
will the increasing number of altcoins affect the price of bitcoin,?
Not in anyway; at least not negatively. If anything, the numerosity of altcoins in the market will even help boost the price of Bitcoin. Let me draw a simple analogy with this. Just imagine if we've only two altcoins in the market and Bitcoin, the law of demand and supply will kick in and investors will be propelled to buy either of the two alts and that will solidly increase demand and consequently the price. Bitcoin price wouldn't even be where it's today with just two solid altcoins in the market instead of the 22,390 cryptos in the market according to CMC data. More people are turning to Bitcoin (against altcoins) and investing there because of the prevalence of scam altcoins there are in the market. This has helped increase the demand and price of Bitcoin. January 31, 2023, 06:42:00 AM
No we already have 1000+ altcoins any more is just another one. I think that having so many altcoins which are scams stops people investing in btc because they only hear of the horror stories with the altcoins and assume that btc or crypto is dangerous to invest in. That probably has reduced our adoption but I still think people will eventually understand that altcoins are just people trying to emulate the success of btc. There is probably only a couple of altcoins that are worth peoples time and they can be counted on one hand.
January 31, 2023, 06:27:25 AM
Altcoins are dead coins, Bitcoin is a survival coin.
Bitcoin is not a survival coin it is the first coin that was born and developed and it is the main coin(more liquidity) where the price is different from altcoins.
Do not compare Bitcoin to altcoin because without Bitcoin altcoin will never be born.
Even if Altcoin or shitcoin becomes dead or increases in number it doesn't help to grow Bitcoin.
@OP it means it doesn't impact much or no impact if there are many altcoins being born or dying. Most altcoins are scams and it is likely someone develop a new product and resells it to the market it is likely a Fake vs authentic product but the original product doesn't drop in the price instead it increases in value while the fake one keeps declining.
January 31, 2023, 06:01:03 AM
It depends on what kind of altcoins it is because some of them are really good in the first phase of their times and no doubt, if that's the case then other investors will surely temporarily convert their bitcoins into those coins but when they gather enough earnings from it, they quickly switch back to investing in bitcoins again. sometimes it is really better to stick with bitcoins because when things aren't right with those altcoins, it may gonna turn bad and their price will crash and never recover again. So others will ignore no matter how good new altcoins are because they want some assurance about their BTC and when BTC prices fall, they always recover as we can see today.
January 31, 2023, 05:50:20 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 won't because most of altcoins die after a few months or after a big bull run. Many altcoins are scam and they won't exist too long in the market. Many other altcoins are incapable to develop something that the world actually need so they gradually die especially with downtrend in bear 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.
Bitcoin is already a survivor after many years since 2009 and if institutional investors want to join cryptocurrency market, they must pick Bitcoin as their first asset. It has biggest trading volume that is perfectly matched with big capital from institutes.
Dead Coins: How Many Cryptocurrencies have Failed?.
Altcoins are dead coins, Bitcoin is a survival coin.
January 31, 2023, 05:44:00 AM
not really
it just means less users per market because they are trading on lots more platforms rather then millions of users on one market
it affects the volume of the trades more so.. not the price per trade as much
most of the time by having other markets. people can do a thing called arbitrage
EG
USD-BTC-ETH-USD-BTC (full circle)
or
USD-ETH-BTC-USD-ETH (full circle)
which bot trading then takes advantage of a possible arbitrage path, thus they rinse whatever profitable circuit path is best. thus then causing more volume over multiple markets using the same lump of funds value. increasing the volume of each market
thus it ends up as little to no effect
it just means less users per market because they are trading on lots more platforms rather then millions of users on one market
it affects the volume of the trades more so.. not the price per trade as much
most of the time by having other markets. people can do a thing called arbitrage
EG
USD-BTC-ETH-USD-BTC (full circle)
or
USD-ETH-BTC-USD-ETH (full circle)
which bot trading then takes advantage of a possible arbitrage path, thus they rinse whatever profitable circuit path is best. thus then causing more volume over multiple markets using the same lump of funds value. increasing the volume of each market
thus it ends up as little to no effect
January 31, 2023, 05:20:13 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.
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