Quote from: Jenny Z on Today at 05:59:23 AM

I think the biggest crisis of Bitcoin currently comes from altcoins such as Litecoin. Because the open source nature of Bitcoin itself does not guarantee that it has any technical advantages over other altcoins, the current altcoins will emerge in endlessly. Bitcoin itself will not be overissued, but because it has no technical advantage over other altcoins, as long as an altcoin appears, it is equivalent to an overissue of Bitcoin. When people find that the price of Bitcoin is higher than the psychological price, they will switch to buying other currencies. After all, they are all the same algorithm and the same idea.

That is why the emergence of a large number of altcoins, and with the best functional indicators, strongly distract investors' funds and therefore the level of capitalization and dominance of bitcoin is falling. It is still difficult to say what this may lead to, but in any case it is not in his favor. Even if we take into account that 80 percent of all altcoins are useless, the process of their development is still going on, and at a fairly rapid pace.