Quote from: Ludmilla_rose1995 on February 16, 2023, 04:34:17 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.

there are already more than 10 thousand altcoins circulating on the market and it doesn't affect the price of bitcoin at all, in fact it's a good thing for bitcoin because of the pairing of btc, and the new altcoin. bitcoin is the benchmark of the cryptocurrency market and until whenever its price will not be damaged just by the increase in the number of altcoins.

Are we sure about that? I mean just based on CMC numbers, during the bear market of 2018, we had a few thousand at most, but after 2021 bull run we had tens of thousands of things there, and it keeps getting listed more and more and not like they are an exchange, they don't really need to delist anything, even if it goes to zero, only if they want to, but can leave it there as well.

This means that we may have gone down in bitcoin price during 2022 because the money that could have kept it going even higher, may have gone towards these tens of thousands of coins, not just investment but development costs as well, maybe billions could have been spent on bitcoin went to these little things.