Quote from: GideonGono on February 02, 2023, 12:50:57 AM

Quote from: Rx009 on January 31, 2023, 10:20:13 AM

I'm still a beginner in crypto, as we know from time to time the number of altcoins is increasing, but I want to ask,
will the increasing number of altcoins affect the price of bitcoin,?

but in my opinion it will not affect the price of bitcoin, even though the number of altcoins is increasing.

Yes it wouldn't affect Bitcoin no matter how many alt-coin might be created the original would always be on top.
It doesn't matter how many alt-coins are out there most of them doesn't really have a value.
The only negative impact of those alt-coin in Bitcoin is that newbies that would get scammed by those shitcoin would generalized all of crypto as scam.

This is a big problem for bitcoin, scammers are everywhere and regardless of how many times we warn newcomers about them and how most altcoins are created by them we are ignored, then when those newcomers are predictably scammed we recommend them to start again while concentrating only on bitcoin this time, but then we are ignored again as due to being scammed those newcomers now make wild generalizations about the market, generalizations which are very damaging since not only they will hold those beliefs but they will transmit them to whoever is willing to listen to them.