What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?
Normally, we could say that if there was no cryptocurrency and bitcoin had become popular without the altcoins, it is very much possible that we may have reached its full potential by now, and the reason why I said so is this, I understand that the total market cap right now according to coinmarketcap is 252 billion dollars of which about 44 percent of it is just for altcoin market, which we could say that if bitcoin was to have 100 percent of it, the value may not have reached $20k yet.
The reason why I said that the value would have reached over $20k and even probably reached its limit is that many ico project actually sent a lot of people that were scammed packing from the market, so it is obvious that if these altcoin had not scammed people, the marketcap of bitcoin may have been growing to 1 trillion dollars without the altcoins.
I posted this to learn from others suggestions and insights. I think your right that reason for the bitcoin price becaming low is because of the scammers. But for the altcoin I think we need the altcoins for the industry to grow. Because I think if there is no altcoins. Some other investors would not invest in cryptocurrency in bitcoin alone. Altcoins are good but if it is not a scam.