In my own opinion, the more altcoins and erc20 tokens being released everyday in market, the more it affects Bitcoin or even Ethereum's price to go down.Since the volume of investors should be instead investing on btc and eth are now divided to altcoins.What do you think?
The more the new token being release this will help to increase the popularity of cryptocurrency as those new projects will bring new investors. New investors will first buy Bitcoin before he will invest on those token and if he will withdraw his crypto he will then trade his token to bitcoin before it exit to fiat. This will increase the demand of bitcoin and the money flowing on the cryptocurrency.