In my opinion, the price wont go down just because of it, but it will grow slower than before, because money is limited and people have to choose.
Who would choose shitcoins though? These are basically cash grabs and pretty much everyone knows it. What usually happens is once when people are done making money with them, they dump and move their money (which had grown at this point) to Bitcoin. So maybe it could be said that they actually help Bitcoin growth? Lol.
It's true that legit ones could take money away from Bitcoin though, but they're very few and very far between. This isn't even necessarily a bad thing, because competition could also drive growth up.
Do you even know there is a coin called Ethereum?
haha, ethereum is shittier than most of them combined.
it is centralized, it is not immutable, it is slow to sync, it is incapable of handling large number of transactions, there has never been a good and clear plan for its future, it was created with the purpose of pump and dump, it is premined, it has lots of exploits and bugs that have led to millions of dollars lost in multiple occasions, the official wallet has already had 2 major exploits leading to big hacks,....
