I felt like seeing a movie and opened my streaming app (Netflix) to make a selection of a movie to see and I became confused which to select because of the many choices that I saw. I immediately had this thought that it is the same way people who have the interest of investing in cryptocurrency become confused the one to invest in when they find out that there is bitcoin and many other altcoins. Many people become confused and make mistakes because of the many options they have in cryptocurrency, they fail to invest in bitcoins because they think that there are many other very good options. Do you agree that more people will choose to invest in bitcoins if there were not so many cryptocurrency choices although not all are good?
I somehow disagree with your statement. Even if the world of cryptocurrency is been saturated with thousands to millions of cryptocurrencies, majority of the users has at least BTC to their portfolio. Not to mention, majority of their investments come from BTC.
The reason is due to its price, market share, and liquidity on the market. In addition, with the happening of forks on BTC, there will always be that chance of its price skyrocketing like what happened years and years ago.
When I first joined this forum, the price of 1 BTC = $4,000 and people were skeptical lf its price would increase. Now that its current price is ~$20,000, expect that this might be the next price floor to a more bigger price in the future.