Post
Topic
Board Speculation
Re: does the increasing number of altcoins have a negative impact on the price btc
by
Lida93
on 12/02/2023, 09:49:12 UTC
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.
OP like you rightly said, the increasing numbers of altcoins on daily basis has no atom of effect on BTC not to speak of one that's negative. On the contrary  it's BTC price that  does affect and has influence on the performance of most of these altcoins, when BTC price rises those altcoins follow suit, same with when it falls.
Altcoins can't be compared with BTC in terms of value through the test of time, as these altcoins just flash into the market and disappear within a very short time and that's unlike bitcoin.