^ Definitely right, it is really bad news and I may also consider that they are already trying to manipulate bitcoin by bringing up another 550 coins by next year. It may not appear that it has no direct impact with bitcoin but by having these other coins which could be an alternative, people may tend to seek an option if bitcoin's price will continuously be increased and if that will happen investors may be divided and the price can possibly dump which could weaken bitcoin. Probably, this is a form of conspiracy from someone or a group of people who wants to vanquish bitcoin by providing tons of available options and later will plummet as well in their own phase.