I'm just curious if what are the effect of increasing number of altcoins in the market is it good or bad in crypto currency? Do we really need a lot of altcoins in the market ?.
Competition in the market is always useful for its development because to stay in the market a project needs to be good enough this means that good projects will develop under market pressure it will push the entire crypto market up in price and as projects .
Competition is good to an extent, as long as it's good competition. A bunch of crappy scammy ICOs won't contribute in anyway in terms of competition and will drag down the reputation of all the other altcoins.