Post
Topic
Board Speculation (Altcoins)
Re: More altcoins produced the more Bitcoin or even ETH will go down
by
andrei56
on 24/11/2018, 04:21:33 UTC
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?
I agree that the huge number of coins in the market affect bitcoin but not for the reasons that you believe, if you take the time to look at the statistics of the market you will see that most of the money is concentrated on the top coins so a new coin that is able to gather a few million dollars from investors is not a threat to those top coins, the problem is that many of those coins are scams and this gives bad reputation to the market.