will the increasing number of altcoins affect the price of bitcoin,?
I once, read regarding your question, with the title:
The Top 7 Most Influential Factors on Bitcoin PriceIn the seven factors above, I see the one you mentioned is included in that category.
Competing Cryptos
The rise of competing cryptocurrencies, also known as altcoins, can influence the price of Bitcoin. As
new coins enter the market, they may draw attention and investment away from Bitcoin.
However, Bitcoin’s status as the original and most well-known cryptocurrency can also benefit its price, as it often acts as a gateway for investors entering the crypto market.