Bitcoin Forum

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.

not really

it just means less users per market because they are trading on lots more platforms rather then millions of users on one market

it affects the volume of the trades more so.. not the price per trade as much

most of the time by having other markets. people can do a thing called arbitrage
EG
USD-BTC-ETH-USD-BTC (full circle)
or
USD-ETH-BTC-USD-ETH (full circle)

which bot trading then takes advantage of a possible arbitrage path, thus they rinse whatever profitable circuit path is best. thus then causing more volume over multiple markets using the same lump of funds value. increasing the volume of each market

thus it ends up as little to no effect

It won't because most of altcoins die after a few months or after a big bull run. Many altcoins are scam and they won't exist too long in the market. Many other altcoins are incapable to develop something that the world actually need so they gradually die especially with downtrend in bear market.

Bitcoin is already a survivor after many years since 2009 and if institutional investors want to join cryptocurrency market, they must pick Bitcoin as their first asset. It has biggest trading volume that is perfectly matched with big capital from institutes.

Dead Coins: How Many Cryptocurrencies have Failed? (https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed).

Altcoins are dead coins, Bitcoin is a survival coin.

It depends on what kind of altcoins it is because some of them are really good in the first phase of their times and no doubt, if that's the case then other investors will surely temporarily convert their bitcoins into those coins but when they gather enough earnings from it, they quickly switch back to investing in bitcoins again. sometimes it is really better to stick with bitcoins because when things aren't right with those altcoins, it may gonna turn bad and their price will crash and never recover again. So others will ignore no matter how good new altcoins are because they want some assurance about their BTC and when BTC prices fall, they always recover as we can see today.

Bitcoin is not a survival coin it is the first coin that was born and developed and it is the main coin(more liquidity) where the price is different from altcoins.

Do not compare Bitcoin to altcoin because without Bitcoin altcoin will never be born.
Even if Altcoin or shitcoin becomes dead or increases in number it doesn't help to grow Bitcoin.

@OP it means it doesn't impact much or no impact if there are many altcoins being born or dying. Most altcoins are scams and it is likely someone develop a new product and resells it to the market it is likely a Fake vs authentic product but the original product doesn't drop in the price instead it increases in value while the fake one keeps declining.

No we already have 1000+ altcoins any more is just another one. I think that having so many altcoins which are scams stops people investing in btc because they only hear of the horror stories with the altcoins and assume that btc or crypto is dangerous to invest in. That probably has reduced our adoption but I still think people will eventually understand that altcoins are just people trying to emulate the success of btc. There is probably only a couple of altcoins that are worth peoples time and they can be counted on one hand.

Not in anyway; at least not negatively. If anything, the numerosity of altcoins in the market will even help boost the price of Bitcoin. Let me draw a simple analogy with this. Just imagine if we've only two altcoins in the market and Bitcoin, the law of demand and supply will kick in and investors will be propelled to buy either of the two alts and that will solidly increase demand and consequently the price. Bitcoin price wouldn't even be where it's today with just two solid altcoins in the market instead of the 22,390 cryptos in the market according to CMC data. More people are turning to Bitcoin (against altcoins) and investing there because of the prevalence of scam altcoins there are in the market. This has helped increase the demand and price of Bitcoin.

It is about integrity the more altcoins we have the more we have that have no original features and are looking to pump and dump that can hurt the adoption of btc because the news will cover these altcoins which have scammed many people. Then people do not want to invest in crypto because they are scared that his will happen to them. This does effect bitcoin and it would be better if we only had altcoins which offered unique features instead of having 1000+ altcoins that offer the same features.

No, It does not negatively affect the price of Bitcoin

Look at it this way, back in 2017, there were about 1000 different coins and tokens listed on CoinMarketCap. But this did not stop Bitcoin from hitting an all-time high of $20k. First forward to 2021, there were over 20K different coins and tokens listed on CoinMarketCap, again this did not stop Bitcoin from reaching 69K.

The only negative impact is token scams where very many newbies fall victims

That is not evidence that btc is not affected by altcoins the altcoins could have helped btc because it got people invested into altcoins which then changed to btc when they learned more about it. I think altcoins are the best way to learn about crypto because most of them are worth nothing and you can make mistakes without big consequences. You cannot do the same in btc because it is worth something and will always be worth something. People can learn without these consequences and then when they are ready invest in btc and be safer because of their knowledge of altcoins.

If anything is going to have an effect on the other, It will be Bitcoins the superior having an effect on altcoins and not altcoins having an effect on bitcoins. It is common knowledge in cryptocurrency that bitcoin leads and strongly has an effect on the prices of all other cryptocurrencies. Even if the number of altcoins are on the increase which is something that will always happen, it cannot affect the price of bitcoins negatively.

Yes,

But it's not because the altcoins are more superior than Bitcoin, the reason is many people especially newbie doesn't understand anything about Bitcoin and they will buy a shitcoin because someone suggest it or the price is cheaper than Bitcoin. Actually they don't need to buy 1 Bitcoin because they can buy in fraction like 0.05 or 0.005 and such on.

Since there are many choice and people made a mistake to invest in shitcoin, Bitcoin price haven't surge a lot.

That's if you just dip your finger in so that a bad experience at the start isn't a big deal to continue to dive deeper and be careful.
Some newcomers fail to improve and opt out after the 1st failure for sticking their whole ass to the bottom of the altcoin scam pool, take memecoin hype 2021 for example.

The relationship between the number of altcoins and the price of Bitcoin is not clear-cut. The rise in altcoins can divert market focus, potentially hurting Bitcoin's price.
On the other hand, the existence of a wide range of altcoins may have also sparked public awareness and interest in the cryptocurrency industry as a whole, potentially leading to increased demand for Bitcoin. The presence of a diverse range of coins can also bring new innovations and technologies, which can benefit the entire industry and lead to a positive impact on the price of Bitcoin. So, all in all, I'd say it's like a double-edged sword.

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Learning from your own mistakes is cool and all, but relying on it too much has its downsides. It can be time-consuming, inefficient, and costly. So, relying solely on learning from your own slip-ups isn't the smartest move.

I wouldn't say it's because of the increasing number but it's on the presence of alternative coins. Perhaps you could think of a person who has $1000 to invest. He could put all that amount into bitcoin if there was no other option. He may have heard there are altcoins that could potentially give him more gains so he decided to allocate $300 to btc and the rest to two or more alts. Imagine if there are many people who would think like that.

the ever-increasing number of altcoins will probably only affect the adoption of Bitcoin from newbies. some beginners or maybe more choose altcoins because the price is cheaper. and also maybe because of suggestions from others. because I have friends who prefer short-term investing in altcoins rather than Bitcoin.

I might think more about the positive impact it has on strengthening the market because of more altcoins. although of course there is also a negative impact when more and more shitcoins end up being scams.
but as more people adopt crypto it means there will always be growth in the better market. crypto adoption is getting bigger. when the choice is also greater. the impact on market strength is not specific to the price of Bitcoin.

I strongly believe yes!

Majority of the altcoins are pure gambling. A lot of people invest on them as if they are a get rich quick scheme. In 5his process, a lot of people looses their money. So these altcoins are a big roadblock for bitcoin's liquidity.

The investments that should have come to bitcoin, a divided to these altcoins which are resulting in less demand for bitcoin. If 20% of the investments that are going towards these shitcoins, were coming to bitcoin, we would have crossed trillion dollar quite easily. So these altcoins are really bad for the market.

Not only from newbies but there are some veterans who will get tempted on their short-term pumps. I am talking about the new altcoins but they can also invest on old altcoins for the long term as a part of their diversification. This affects BTC somehow. If BTC is the only crypto then it will get all the demand and its value is already high now.

If more newbies will get scammed by those scammy altcoins then they will leave the crypto world and they might also warn other people about this. That is one of the down side of having an altcoin in this market. Even though not all are obvious scams but we don't know maybe their devs will get tempted to pull the rug later on? There are also legit alts who will get weaker in the long run. People can still lose their money this way.

I do not think increase in altcoin will in any way have affect on bitcoin price. Bitcoin has been there before the inception of altcoin  and as a matter of fact, bitcoin has created a niche for itself as the first digital currency in the world and therefore it is termed the digital gold with a limited supply and demand on increase. Gradually, bitcoin will become legal tender in most countries in the world which altcoin can not achieve in any way.
Another thing to note is that bitcoin is not regulated by any government or anybody compared to altcoin so therefore bitcoin price as I know can never be affected by altcoins even of altcoin keep increasing tremendously and otherwise.

You are right. It will not affect the bitcoin price. But that makes the list of altcoins will continue to change from time to time due to competition between the altcoins. And only altcoins can really benefit investors and traders who will survive for the long term because those altcoins can benefit them. In addition, with so many altcoins on the market, traders and investors have many options to make profits but they have to really look for the right coin.

the most popular altcoin is etherewum.. but if they are number 2. you would think they would have a large community where their own market would have its own niche price discovery/vale metric of its own senitments.
meaning if it was popular with large unique usage the price markets of ethereums would not look anything like bitcoins market movements

but take a look at the 5day or 1 month or 6 month charts and compare the market price wiggle shapes

ethereum the supposed #2 coin is just sheep following bitcoin. because bitcoin is where the real discovery is and the other markets are just tracing bitcoin due to arbitraging
take a look at how its over 98% similar in its ups and downs
bitcoin                                 ethereum
https://i.imgur.com/LIRavfr.png

in short. other coins dont have any meaningful disruption to bitcoin

Do you mean an increasing number of shitcoins? Shitcoins are everywhere and there is no stopping for scammer developers to create shitcoins once they rug-pulled their previous coins. Rinse and repeat. Bitcoin is the first, the original and it will always dominate the crypto market. When was the time when bitcoin's value dropped to second or its trading volume dropped to second or third? It never happened. Bitcoin will always be bitcoin and it lives and continues to grow over time with or without altcoins. So for me, I do not think the growing numbers of altcoins affect the price of bitcoin. 99% of these altcoins will turn zero anyways once the hype is over.    

I think there’s no question that altcoins/shitcoins detract from bitcoin and it’s bottom line as well as it’s worldwide adoption. I’ve had so many countless clients come to me and ask me about all of these nonsense altcoins thinking they are going to get rich like some did with bitcoin.  I normally tell them to try and keep something like 80-90% of your coins in bitcoin and “gamble” for the rest of them.

Whether they listen or not, I’m not so sure.

I think if you have a small amount of money that you could invest into, the best thing to do would not be just focusing on making THAT bigger, but to make sure you can invest more. How can you do that? Well you must have some income to live, and  that means you have a job, if you don't, then that's priority, get a job.

After you get an income, there are two options which means that you could either put some of your money into bitcoin from your salary, or if that's not enough then find a side-income, and put that into bitcoin. This way, you will have a constant influx of money going into your bitcoin account, and you will eventually have enough bitcoin that when it goes up, it makes a good profit for you.

If you look at CoinMarketCap then there are 22394 coins listed as of now. Only top 10 or 20 alts are worthy for investment rest are useless in my opinion. The 41% dominance of bitcoin proves the fact that presence of so many alts have no effect on bitcoin. Also if you see price pattern of different alts then its very much clear that alts are heavily dependent on bitcoin price. Alts is a term that must be reserved for coins like Ethereum, BNB, Cardano and remaining top 20 on CMC. If 22k alts wont be able to beat BTC together, I am sure 50k alts wont be able to do that.

Bitcoin have died few times already and it's still alive today, I have never heard of altcoins coming back to life after death, this is what makes Bitcoin a survival of it's kind, many altcoins will keep facing the same fate over and over until Few ones are good for adding up to the list of possible payment gateway like the ISO20022 thing, now that AWS and Microsoft are gearing up to enter crypto yes I am certain that some altcoins will survive, Amazon already picked Avalanche but Bitcoin will always remain the best.

thats the thing though. people can lock btc up and peg it to a subnetwork bridge offering capacity and capability to transact millions of peoples value

But lightning had 7 years of failed launches and bottlenecks and broken protocol that allowed fractional reserving, fake balancing, and just didnt meet any of its promises..

as a mainnet bitcoin is top(im a bitcoin maximalist and proud of it. but i am a realist too and not afraid to be frank about details others want swept under the rug)

but bitcoins 2015 promises of functional subnetwork bridges to be capable of handing millions of users payment, has failed.. failed in promises features functionality, operability, capability.. and the test of time
its because cores team of "products"(subnetworks) they are not building subnetworks to solve problems they are building networks to stall and delay and make people wait years..

this is why amazon chose a subnetwork bridge of ethereum to use(avalanche). because locking btc to then peg to avalanche has shown more success in 15 months, rather than locking bitcoin and pegging to lightning has in 7 years

im ashamed to say, but its too obvious to deny
avalanche has shown it has a better value store and security monetary policy. thus gained more btc pegged adoption than lightning

lightning still has flaws bugs, lack of value security, weak pegging (on the lightning side) no network wide audit, no network security model.(list goes on)

its become shameful that more users trust their btc value on avalanche than they do on a subnetwork supposedly linked to bitcoin mainnet
and even more shameful that business titans who done their research also see avalanche as the better option subnetwork for btc value locks, subacute of the lack of success/promises met by lightning

You have answered that and your answer is correct because no matter how many altcoins are added and how many projects there are, it will not really make an impact on the price of bitcoin.
What happened was the opposite, when bitcoin entered a crash state, they were the ones who were affected and even though there are many altcoins every day, you can see how many of their projects have died and been abandoned.

Nope. But between altcoin and Bitcoin, there is a one way relationship in terms of market value. The market price of aotcoins won't be able to influence the price of Bitcoin but with Bitcoin's value it can literally influence majority of this industry. Maybe it has something to do with which is the bigger blockchain and community of users which yields to bigger influence in this market. During bullish run, big tokens are leading the industry to have an increase as well but altcoins would for sure having a bigger rate of increase over big names in this industry, which would simply generate bigger profit.

Not that much but we cant really avoid not to think that with altcoins existence then it would really be making out that partition on which people would overall will be making out investment which those things could be potentially be poured purely on Bitcoin but well it doesnt matter though because we arent that blind not to see when it comes to dominance.

If we do look currently on here https://coinmarketcap.com/charts/#dominance-percentage
Bitcoin does have 42% dominance overall in market and rest is playing in between top altcoins and the rest is playing below into those points.

Increasing number of altcoins won't disturb the market of bitcoin. Bitcoin have got its user base and rest will be on altcoins. Lets have a simple calculation, if 80% of people use bitcoin, the same counts when there exists a new altcoin. This falls under the remaining 20% which is the altcoins users. Now among the 20% little turns towards the new altcoins. This is how it works and the same might have small impact on altcoins and not on bitcoin.

I think the cryptocurrency market is constantly evolving and there are many factors at play, so this is a question to be answered with time. On one hand, I could see the argument that altcoins hurt Bitcoin's price because of their introduction into the market and subsequent rise in popularity and value. On the other hand, it could be argued that altcoins only help bring more attention to the space as a whole, which would lead more people to Bitcoin and ideally, drive up its price too. In my opinion, it's too early to tell at this point in time.

If many scam alt token creators will come then to many people invest with them maybe they can give a short term effect to the market since those scammers can actually dump millions of dollars in volume so provably it can move the market for a while. But that's temporary and there's nothing to afraid of since bitcoin could recover in anything happens to it since support is so strong with this coin.

as a beginner, of course you are definitely not experienced in bitcoin and crypto,
and this is a good and reasonable question.

indeed the number of altcoins is increasing but of course it will not affect the price of bitcoin, because most people invest in altcoins only for the short term, and for the long term most people still choose bitcoin. so adding altcoins certainly won't affect the price of bitcoin.

Let's make a small comparison of the 2017 market, and the 2021 market can see the number of shitcoins has increased 10 times from 2000 shitcoins to over 20k shitcoins, according to CMC statistics. And the bitcoin price is steadily increasing and always hitting a new ATH after each halving, so it can be seen that no matter how much the number of shitcoin increases, it will never have a negative impact on the bitcoin price. On the contrary, it affirms the position of bitcoin, shitcoins are continuously created and disappear every year, and only bitcoin survives through the years.

It’s great to know that being a beginner you have many doubts and you wanna clear it. But let me tell you the basic fundamental that the price of Bitcoin only depends on the users and their willing to use it. Generally the price of the coin increases only when the demand of the coin increases. In short due to the limited supply of Bitcoins, the price automatically increases to meet the consumer’s demand. You can easily notice it if you go to any trading platform and see that there are more buy orders then sell orders and at that time the price will also be high.

Even though the number of altcoins will continue to grow on the market, this will not make people reduce their interest in bitcoin because bitcoin is the king of all coins and so far if we look at it when beginners hear about Cryptocurrency for the first time then usually only bitcoin comes to mind their thoughts mean that bitcoin is the only Cryptocurrency that is very popular among the people.
The presence of altcoins has no impact on bitcoin prices, but basically almost all altcoins are very dependent on bitcoin price movements.

No matter how many altcoins appear, it will have no impact on the price of Bitcoin. On the contrary, altcoins will be affected by the price of Bitcoin and will follow the trend of Bitcoin price.

Bitcoin already has many users and the largest transaction volume, and many investors will choose Bitcoin as their first asset. While many altcoins in the market are scams, they don’t last long and the projects eventually disappear.

They definitely have an effect, but both positive and negative effects.


Negative effect: A lot of people first get into crypto to get rich quick. They hear about exploding prices and they start throwing money at it. These people used to throw that money at Bitcoin, but now Bitcoin is too big to 20x in a year or something so these people throw money into altcoins instead. That is money that otherwise may go into Bitcoin.

Postitive effect: But altcoins bring more people into the crypto space as well by expanding the scope of the industry to not just be money (bitcoin) but also apps (crypto aka ethereum and altcoins).

Negative effect: But some of these people never get educated on the space and just fall into the trap of thinking Bitcoin is old and outdated and they get stuck on altcoins that likely aren't going anywhere long term.

Positive effect: Eventually some of these people will get tired of losing money on altcoins and they'll realize they should have just been buying Bitcoin the whole time.

Negative effect: But Bitcoin's reputation gets muddied by it being associated with all cryptocurrencies in general so people don't have an idea of how different Bitcoin and Crypto are and they associate Bitcoin with the scammy, risky, high failure rate of altcoins.



But if you're just talking about the INCREASING amount of altcoins, like 30,000 altcoins instead of 5000 altcoins, for example, no I don't think the fact that there's many thousands of altcoins as opposed to a few thousand or a few hundred altcoins really matters. There's a ton of altcoins, the precise number of that ton of altcoins doesn't matter.

People In the BTC industry always try to guess the situation or reason why BTC rose or fell, sometimes they say it is one positive or negative news, or Elon Musk, or the collapse of one centralized service, etc, but i've not heard about the increasing number of altcoins having a negative impact on BTC's price.

But if you think about it, if there were no altcoins, BTC would have more adoption because any person who wants to buy crypto would buy BTC, but many people are buying altcoins because they want returns very fast. I feel this is the only way to put it: altcoins somehow divides the industry and if it wasn't that way, more people would have probably invested in BTC, and the price may be higher than what it is now.

Altcoins is altcoin and bitcoin is bitcoin so one will never have a negative effect on the other.  Bitcoin is a trusted and valuable crypto so no matter how many new altcoins hit the market, no one will ever jump on that new altcoin by ignoring Bitcoin. Yes many people are earning through trading business through altcoins and many are holding altcoins but everyone's first priority is bitcoin. So the constant influx of altcoins into the market is never a threat to Bitcoin.  Rather this is a positive point for Bitcoin.

the advice and input from everyone is very useful for me and also for everyone, so in conclusion bitcoin will not be affected  its price even though the number of altcoins is increasing.

Not much influence will occur, altcoins are only complementary, let alone altcoins that do not have good credibility and development, which only tend to take advantage at the beginning of some investors who enter and then leave the altcoin.

Many new altcoins become trash and die. So that altcoins will not have a big impact on bitcoin.
But conversely, Bitcoin will have a huge impact on all Altcoins if the bitcoin price is unstable.

The people who bought altcoins when the hype was early, were expecting huge returns with the pumping boom that was about to happen.
It has been a common practice since the ICO era, I even participated in several presale altcoin projects which provided quite large profits,
maybe 100x of the capital I used or even more.
Bitcoin comes first, if altcoins are less then bitcoin is always an option, Altcoins are just as complementary.

I think on the contrary, without altcoins, bitcoin would never have been as valuable as it is today, and the market would not be as robust as it is today. Most market participants are mesmerized by the hype of altcoins, and when they lose money because of altcoins, they realize that bitcoin is worth investing in. Altcoins are hyped and die later, which further proves that bitcoin is the most reliable coin and worth long term investment. Bitcoin alone could not create a market as large as it is today.

I dont think that increasing number of altcoin has a significant impact on Bitcoin price. Imo, there is a tiny impact, simply because trading cap is being spread on more cryptocurrencies. Bitcoins market cap is almost $450 billions, the altcoin with few dollars trading value and market cap mathematically has an impact on Bitcoin, but it is unnoticeable.

Draw a similarity between cryptocurrency and beverages. Where Bitcoin is Coca-Cola or Pepsi, and altcoins are all other sparkling drinks. Every week new drink appears in the market, but Coca-Cola or Pepsi are still on top and their price stays the same (if we dont take inflation into consideration).

Altcoins never have and will never affect the bitcoin price, even if their numbers increase further. The more competition there is, the higher the value of bitcoin will be, the value of Bitcoin will decrease if it encounters a stronger opponent, but that is unlikely.
The crypto market has been around for more than 14 years, and there is still no altcoin that can beat bitcoin, and that is also unlikely in the future when altcoins only focus on pumping and dumping, while bitcoin contains a utility, benefits that people need.

Of course not, there is just a general distribution of investments between bitcoin and alts in general. Bitcoin just gains and loses dominance and this money distributes between all alts and it doesn't really matter how much there is.

Yes, right. So you don't need to worry about the many altcoins that will be released later. Bitcoin runs on its own and so do altcoins but altcoin prices follow where bitcoin prices go.

The price of bitcoin will be affected if there is news that makes people in the market think that something is going to happen to bitcoin and they come to their own conclusions. But if they want to check the truth of the news, it will often give them the opportunity to adapt to the situation in the market.

I tend to agree with the op. Altcoins were a threat to Bitcoin's market capitalization in 2017, or so it seemed, but then Bitcoin because stronger during the bear market and is currently, many years later, at 40%, even though there were tons of new crypto things, including altcoins specifically, during this period. Altcoins were never a threat to the price, as people don't seem to choose between Bitcoin and altcoins as much as new people get involved and people invest more into cryptos, so there's plenty of demand to go around. Nowadays, I'd say they aren't much of a threat to Bitcoin's share of market capitalization either. Most new projects take up a tiny amount, and very rarely something new reaches significant heights. Even when that happens, it's more of a competition between altcoins than with Bitcoin.

The only way I think it will affect bitcoin price is that it's going to reduce the rate at which bitcoin price will be growing, some people will invest in altcoins because they believe it's going to multiply their money for them easily compare to if they invest in bitcoin, actually I believe only newbies will choose altcoins over bitcoin, because most of them are looking for where to easily double their money, that's why they are easily scammed, most of them don't really understand cryptocurrency. I think that's the only way that increasing number of altcoins can affect bitcoin.

Bitcoin price is the deciding factor, which means that we are not going to end up with altcoins moving by itself for far too long, one or two could make moves each day, but they will go down the next day to regular prices and another new one will go up, and keep repeating that. On the other hand a consistent increase will only happen when the price of bitcoin starts to go back up again.

This is why we believe that we are not going to end up with anything bigger, it is going to be something only dedicated to what bitcoin does. However, it would be always welcomed for me if we had a smaller number of great things, instead of tens of thousands of small unimportant projects.

I don't think it does because even if we have like billion of alternative coins on the market still this won't affect the bitcoin price that much and the only reason to say this will somehow affect the price of bitcoin is the shitcoins on the market which will make a bad reputation for the market, this way people who have not any knowledge about bitcoin and cryptocurrencies may think all the cryptocurrencies are bad and will have a negative effect in the market environment will this won't directly affect on bitcoin and bitcoin price.

A strong altcoin is not harmful to Bitcoin. But shitcoins and scam coins are a nightmare for the entire crypto sector, not just for Bitcoin. because people are losing money and money ended up in the scammer's wallet. And 98% of the altcoins on the market right now are scams. The funds are not being used for development or expansion. Due to the decentralized nature of cryptocurrencies, fraudsters can quickly establish a token and raise money. The primary threat to the cryptocurrency business is that.

That is right, you should understand that the numbers given as the market cap for altcoins are for the most part huge exaggerations, if an altcoin has one billion coins as its supply and one of them sold for a dollar suddenly the claim is made that this coin has a market cap of one billion dollars, and it should be clear this is not true, with this in mind it makes no sense to worry about so many altcoins being released as nothing can be done about this since anyone is free to release their own coin if they want, but just as they are free to do this the community is free to ignore that coin if they want too.

There are people who know other cryptocurrencies, Alts and then bitcoin, perhaps that is where this concern can arise, so, when one is clear that bitcoin is the main cryptocurrency,  it is that I do not even look what is happening down there, an order hierarchical, if we highlight what exists in a top as they are usually projected on web pages or exchanges, then! perhaps a little exaggerated, but sometimes weeks go by and I don't even look at the top 10.

Hence no matter how many Alts there are, an influence occurs that is produced by bitcoin.

I also think that there is no greater impact for Bitcoin in terms of price with more altcoins present in the crypto space. Because in general Bitcoin is a currency that is very well known by many people so that its dominance will never be lost in the market and also in the memories of many people when they are in the crypto space.

And I often even see the opposite where the price of Bitcoin can be a good influence for altcoins in the market so in general it is the altcoins that have a very positive impact on the price through improving the price of Bitcoin in the market.

Scam coins and fraud ones do bring out that kind of negative effect but it would really be just for temporal since we do know that prices could still reach up potential prices which we do know that it might reach up all time highs on net years to come.It might not be that guaranteed but at least we do have that chances and potential that it could reach up into that point.Therefore, theres no point for you on stressing out yourself on something which arent really giving out some impact towards Bitcoins price increase potential.We do have lots of altcoins in the market but still Bitcoin does have the huge dominance all over them
which does solidly signifies that people do stick mainly into it and been trusting up more.

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.

Here we can take into account that it will indirectly affect the price of bitcoin, the reputation and existence of bitcoin in the long term.
As we can see, market movements are driven by bitcoin movements, in general, it is rare for other coins to stand alone and there has never been a history of bitcoin charts following altcoin charts. That's probably the point Altcoin growth doesn't affect Bitcoin.
But if you look at it from another angle, what Altcoin founders are doing, they always create events and bring new ideas to attract investors into the crypto market and maybe vice versa for a certain period of time.
In my opinion, there are positive and negative Altcoin growth for bitcoin in terms of price and existence which is made from the existence of good or broken Altcoins because bitcoin will be considered the safest and most trusted even though it takes a long time.

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.

When there is a reasonable level of regulation, the number of shitcoins will decrease significantly, which could have a positive effect on the entire cryptocurrency market. However, I personally doubt the reasonableness of regulators because they like to go from one extreme to another

Bitcoin price will not drop because of all the altcoins that is in the market. Altcoins are shitcoins with zero percent value in the long run. The bull market of bitcoin brings their value down which make most people see it as valueless. These altcoins are bringing down the trust on bitcoin since a lot of people that don't understand crptocurrency bitcoin, invest in them and do get disappointed.

Bitcoin is the most valuable crptocurrency and has survived since 2009 till date which makes it more unique and resistance to whatever economy challenges in the world. Bitcoin investment needs patient for benefits but your patient on altcoins might lead to you losing all your investment.

Yes, it's quite obvious. Each dollar in an altcoin (I am speaking specifically about the 99.9% of which that are proven scams not the .1% of interesting projects) represents a dollar that is protecting centralized, government funded, VC funded, inflationary, bloated, closed source, cryptographically-insecure, and morally reprehensible code. All of that money could be in bitcoin, ~ 600billion dollars will be funneled directly to the top of the big bankers pockets through centralized scam coins instead of making bitcoin a 1 trillion dollar market cap asset valued at 60k.

The impact of altcoins can affect the market price ups and downs even if only for certain news, for example Luna impact and FTT have dropped the market to as low as $15k, the current altcoin project is very bad because there is no guarantee it can be developed long term and many teams end up selling coins to the market before they run away, so I agree that altcoins only worsen investor confidence in crypto.

I think it's a different impact though, for me it has an impact as a whole. I was under the impression of the question

"does the increasing number of altcoins have a negative impact on the price btc"

So I would say no, it has no effect whatsoever, bitcoin is a stand alone crypto, heck it is even called the prime mover on the market. So if there is a impact, it should be the other way around. Every crypto is based on bitcoin, i.e. bitcoin/ X altcoin.

For altcoin is a free for all market, in my opinion and no where as solid as bitcoin and they are riskier as well.

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.

I don't think so, altcoins are raising the bar for bitcoin, the more altcoins disappear, the more it proves that there is no better and safer coin than bitcoin in the crypto industry. Although the death of altcoins will somewhat negatively impact bitcoin as many people don't know the difference between them but in the long run, it turns out that bitcoin is the most unique and reliable.
Many people hate altcoins as they keep crashing, but to me, that's normal as we are in a growth phase, and we need to make sacrifices to make greater progress.

The increasing number of altcoins will of course reduce the bitcoin marketcap, 5 years ago the bitcoin marketcap was more than 60%, but now there is only about 32% left, especially after the presence of several stable coins which have now beaten bitcoin's daily transaction volume, but the other side is that bitcoin is still be king and I'm sure it will last for a long time.

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.

This seems to be true, in 2017, bitcoin's market capitalization accounted for 80% of the total market cap, but so far bitcoin's dominant market cap is 41%. Bitcoin dominance is up and down year by year, but in the long run, it is being influenced by altcoins. If altcoins continue to explode further and bitcoin dominance continues to fall, it is not yet sure if this is a good or bad thing. Once bitcoin dominance is gone, market movement will no longer depend on bitcoin.
https://i.imgur.com/bpj9L6n.png

Now more and more altcoins are being developed seriously and with strong financial support, and of course it will disrupt bitcoin market capitalization, and the downward trend of marketcap certainly cannot be stopped, and with this fact of course in the next 5 years there will be several competitors who will replace bitcoin.

And I think as investors we will not be too affected by this, the most important thing is to be able to benefit from bitcoin or altcoins.

Although it can disrupt its market capitalization still it cannot affect bitcoin since in the essence that bitcoin is the most known crypto in the market for sure people will realize to hold Bitcoin aside on those alts they bought. Also those new altcoins could provably bring new crypto users so maybe this can give a long term good effect on Bitcoin since they might be introduce on more good aspect about crypto if they experience to get scam by those bad projects since realization will come especially when they go on good discussion about top altcoins which is good option to invest in the market.

I will have to disagree with you, I do not see how in such a short amount of time several altcoins will be able to replace bitcoin, there may be a few altcoins which are geared towards a very specific area and which may outperform bitcoin there, but to think several coins will come out of nowhere and be a better coin than bitcoin does not seem realistic to me, especially when bitcoin is strong not only because of its technology but because of the massive trust the community has in it, and this factor will not disappear so easily.

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.

Yes, altcoins could might able to get some market share despite on solely focused on bitcoin but its not something that could really be stopped which there would be projects would be launched out but it doesnt mean that it would be the main reason on why it would be giving out big impact on Bitcoin. Demand and recognition is heavily focused on Bitcoin and some top altcoins in the market which is really something that
we could see and we arent that blind.DOesnt matter if we do have lots of altcoins in the market because the main indication and factor that would drive out value would be always "DEMAND".

I agree that there would be nothing that could ever replace bitcoin neither in 5 years, nor later than that. There are a lot of people who hold high hopes for these altcoins and they hope that it will do that but we all know that it is not going to happen, we are not going to see something like this at all.

We know that it is going to end up with absolutely nothing like that at all. We know that these altcoins are mostly shit, and will end up being shitty in the long run as well, and "most" of the top ten will be out of top ten in the next ten years as well, maybe bitcoin and ethereum will stay, bnb depending on how binance does, I am not even entirely sure about the stablecoin ones.

Yes and No!

For starters we need to understand that for the crypto economy to grow, bitcoin alone can not do it unless with the support of other altcoins which compliment Bitcoins weaknesses like slower transaction times, and known support for tokens on its chain...

Also on the other hand the same altcoins we have are just too many on the market such that they do what bitcoin does nothing special about them and in a way siphone Bitcoins true value potential away.

But these numbers alone don't show the true story, 5years ago it might have been bitcoin versus 500 altcoins but today it's btc against 2000 coins which means even if bitcoin gets stronger the number of altcoins on the market will bring Bitcoins dominance down.

if you will stay longer here? then you will understand what is this question and what is the answer , thousands of altcoin had been created and many are still in circulation but that does not bring a huge impact in bitcoin.
actually the increasing number of altcoins helps bitcoin to grow more support as it only shows how trust worthy this coin compared to altcoins.

In my opinion it will definitely have negative impact on the growth of bitcoin in long run because you just need to assume that if all the money right now we are having in entire altcoin market would have been invested into bitcoin alone then where would be bitcoin trading right now? That's really unimaginable. But, unfortunately we have our own enemies who will eat the money intended for bitcoin investments.

At the same time I appreciate the existence of alternate cryptocurrencies, because we need them for at least for diversification purposes which means people will invest some money into them and will spread their risks across different assets.

The money that is intended for Bitcoin, goes to Bitcoin and not to any altcoin no matter how old or trustworthy they are. You said it yourself, that altcoins are a good way to diversify one's investment since no one wants to put all their eggs in one basket. So if there were no altcoins, people would choose something else to invest that money in like gold or real estate or silver. So basically, the money that isn't meant to be for Bitcoin is invested elsewhere and that elsewhere are altcoins.

Altcoins are a big reason why cryptocurrency industry is so widely known in the globe today. Bitcoin alone would take longer to spread the word to the people around every corner of the world if there were no altcoins and other sectors such as NFTs, blockchain-games etc. which are products of altcoins.

Each person does have their own set of goals on which we do really differ when it comes to perceptions and decisions to be made basing up on what we do have in our mind.Most of the time we are really that tending to increase our bitcoin holdings via dealing up with some alts on which on the time you do make profits then it would really be stored up back into Bitcoin which it isnt really that a bad idea.
In speaking about the topic about number of altcoins? Then it would be a non-stop on which there would be devs who would continually to create something new and basing
up on some hype or something and this is why numbers could be stopped but dont worry because the main focus and attention would be on Bitcoin and some top altcoins in the market.

The development of altcoins with strong financial backing in no way will interfere with Bitcoin as a very popular currency and from the fact that it has been seen in the past that there have been more altcoins developed and also a decrease in the price of Bitcoin. All of that doesn't make Bitcoin replaceable and can still be in the first position as the best cryptocurrency of all time and I think this will continue in Bitcoin and there will be no altcoin that can compete with Bitcoin in the future.

If you are an investor and advise not to be swayed by this, then you also don't need to believe in many altcoins even though they were developed with stronger financial backing. Because altcoins will only compete with altcoins and they are not on the same level as Bitcoin, so you also don't need to pay attention to any altcoin development for this because altcoins cannot affect Bitcoin. Meanwhile, Bitcoin is able to influence many altcoins to move in the market.

Agreed, what is being assigned for bitcoin goes into it. So, the existence of more number of altcoins won't affect the bitcoin market at any means. More the altcoins, more will be the choice of investment. However the trusted top list of altcoins were preferred against the 20k+ altcoins available on the coinmarketcap.

It is true that more people get to know about cryptocurrency through these altcoins. Same time, even now there is an understanding that cryptocurrency means it is bitcoin.

Bitcoin may have opponent in finding investors but it always find way to increase its value than to decrease .
I mean each 4 years? the bottom is changing but same as the ATH, so this means the support of the people always stays in Bitcoin.

Effect? yeah of course but negatively? I am not sure mate because as I am aged here in this forum that I watched the coming of hundreds if not thousands of  altcoins? I see no bad effect at all in long term.

that is what we are seeing in the next couple of years as the crypto world is increasing continuously each year.

It doesn't even need to find new people who would invest, which it always finds anyway but it is not a must. It just needs to get the people who sold and got out back again and buying. If they sold, that means they can buy again, they once did, and those people could take it a lot higher.

Plus, you don't need to really just buy to make it higher, buying is one side, but "not selling" is the other side, sellers could dictate the price by making it more expensive for buyers and that could increase the price as well. Combine these two things together and we are going to end up with a much higher price even without needing any new buyers at this moment.

Altcoins are often overestimated, for every altcoin that we can consider to be successful we have hundreds of altcoins which have failed, this failure rate is too high and it makes very obvious bitcoin is the best coin in the market by far, however many investors do not want to accept this fact for the simple reason that if this is true then the chances they can invest just a few dollars in a coin and then become rich become zero, and they do not want to accept this reality even if it should be painfully obvious their expectations are out of place.

The altcoin hype era may no longer be the hope of investors, many altcoins and even top altcoins have been scammed and investors have lost their large investments in altcoins, altcoins cannot be made profitable investments and the most risky investments, I suggest you not get involved in altcoin investments unless you accept the risk loss, the right choice for bitcoin investment and you never worry about market corrections because the price potential will recover in the future.

It does not matter that how many new altcoins originates, BTC will always persists as BTC and the price will elevated gradually. Some people do not prefer new coins because they have no guarantee that what will happen to this token in future. I know that there is no such coin which has 100 percent security that it will never decrease in price but bitcoin has shown that it can enhance the income of each individual if handled accurately.

Bitcoin is always the first priority of every individuals and other altcoins are not such profitable as compared to bitcoin. And there is no effect of generations of increase number of altcoins on the cost of bitcoin. Bitcoin has own place and is consider as one of the successful coin in all crypto industry but its important to understand the conditions and keep bitcoin for at least two or three years.

I would love for the hype of altcoins to disappear or at least for it to diminish greatly, but I doubt that will ever happen, and this is because during each bull market a new batch of newbies will come to the market and they never take the time to analyze the history behind this market, so despite our warnings they decide to invest in all kind of altcoins and eventually they are going to suffer the same fate as most of those that came before them and lose their money when investing in those coins.

But the thing is funds that should be flowing into the Bitcoin market were diverted to the newly created altcoins. Thus it hinders the growth of Bitcoin market.  So yeah I think that the ever growing number of altcoin has a negative impact on the price of BTC.


Not all individual's priority is Bitcoin because, if it is the first priority of all individual then we would not be seeing other investors investing in altcoins.  But instead we all see many investors rushing to invest, other's even selling their Bitcoin stash in order to get into the creation of new altcoin.

I somewhat agree, but if we are talking about crypto in general, altcoins is part of it, and no matter how many times we deny, there are people who have this ability to risk and invest on altcoin and make huge money, it could be small percentage though, but still good for them to make that kind of money in the whole crypto.


And that's why we have the bitcoin maximalist and or investors who just put their money on bitcoin only because they believed and they really know that it's the one and only crypto for them because it shows big profits, specially for those early investors.

yes of course it will not affect the price of Btc even though many altcoins are launched. I think with so many good Altcoins being launched it will make a lot of people more interested in Crypto. of course some of them will also invest in Bitcoin, thus the price of Bitcoin will increase in my opinion

If the majority of the altcoins that were released were good projects this would have a beneficial effect on bitcoin as more people will be interested in a market which is so full of new and interesting projects, unfortunately this is not the reality we are facing, most of the altcoins being released are useless and when their inevitable end comes they scam their investors, investors which not only lose their money but in many cases they lose any motivation to be part of this market and they leave to never return, affecting bitcoin in a negative way on the process.

I don't think so. There are a lot of altcoins in circulation and all of them can be traded directly, but the altcoin is just another piece of paper that is not used for trading, and therefore does not mean that the value will change. 
 
The main reason why people still get a lot of coins is because of

The presence of altcoins, of course, must be admitted to reduce the marketcap of bitcoin, even though at this time bitcoin is still king but more and more people are also investing in altcoins, huge profit opportunities are of course the main reason why people want to share assets into altcoins, besides that the presence of altcoins makes more variations.

We cant really be having that single point or monopolized kind of market on which it would really be just focusing on a single place.In the fact that there's always that someone who would really tend to mimic out

and would be creating something in likes of Bitcoin and now we've been flooded out by lots of projects who are really that tending to get that marketshare.We've been flooded out by shit coins but look at on where  or what happened on Bitcoin? It doesnt really depend no matter how much coins been existing on the market on where its dominance would really be still ahead just because the demand and recognition would always stick into the original or father of all crypto which is Bitcoin. It would be no surprise on why its been placed up on the top spot.

Market dominance had been divided which it is really that something good to look at because investors could really have various options and selections
which they could be able to make when diversifying out their investment which its really that an advantage.

Absolutely not, and to be honest most of altcoins die after few months of launch. At the beginning, they create a HYPE to attract sellers specifically the greedy and beginners, afterward they pump their coins with fake volume and this bull run always last few hours after that the price decreases significantly and goes to 0. In fact, Bitcoin is not negatively affected by the number of altcoins, due to the majority of traders and investors especially the expert ones and whales don’t take the risk and give attention to these dead and scam coins. In fact, the lifespan of 90% of altcoins is temporary , they can last only few months.

No, the growing number of altcoins has no effect on the price of BTC. Even the growing number of ERC tokens created on Ethereum has no effect on the price of ETH.

Bitcoin is just on its own and is the overall driver of this crypto market and its technology cannot be competed with any altcoins out there, Bitcoin is the only true decentralized crypto that we have there. The crypto industry is just like a race that involves survival of the fittest, regardless of the increasing number of altcoins, only few with use cases will really stand the test of time, because the next bull is gonna be base on the utility run , if Bitcoin moves potentially almost every other coins follow suit. So I see no negative impact that the altcoins have on BTC.

I think on the contrary, if there weren't so many altcoins created, people would focus mainly on bitcoin, and that would make bitcoin more valuable. Bitcoin is experiencing increased competition from altcoins, so being hit is inevitable. Think most newbies don't want to invest in bitcoin, they just invest in altcoins to get rich quick. But if all newcomers invest in bitcoin, causing demand to increase, then bitcoin will grow even more.

Agreed, it is an independent market. For that reason bitcoin continue to stay on its growth path unlike the existence of large number of altcoins. The altcoins serve as a competing factor as well gives the users the choice on investment. It is evident that there are good altcoins that can be trusted, however the risk used to be higher than investing in bitcoin. Because the bitcoin market is already proven whereas the altcoin market isn't. Some altcoins used to give high ROI, but we need to be lucky to invest in it. Altcoins doesn't have any negative impact over the price of bitcoin.

well sometimes it did, there are some cases when many of btc holders are buying up some altcoins to not miss some chance of flipping their investments.
like the case with sui, i've seen many that outright converted their bitcoin to usdt just to get that share of sui IEO, but i don't think the effect is that much significant.
after all. bitcoin market domination is huge, its trading volume is tremendous I don't think some measly altcoins with significantly lower dominance will ever scratch the market capitalisation of bitcoin, so it did have negative impact sometime but just not that significant.

The presence of many altcoins certainly makes the bitcoin market cap less and less, especially now that there are more and more large projects that are supported by strong finance and are connected to many exchanges so that they can easily control bitcoin. the stable presence of coins is proof that now trading with bitcoin pairs is decreasing.

The presence of altcoins can positively and negatively affect bitcoin, not all of it bad. More and more altcoins are sure to influence bitcoin dominance, this is seen when years ago, bitcoin accounted for 80% of the market cap, but now bitcoin dominance is only half the market. But the flip side is that even if there are millions of altcoins created, there is still not a single altcoin that can outperform bitcoin. That shows that bitcoin is still the best coin, worth using and investing in the market. Bitcoin is still the king in the market, although many altcoins claim to own new technology, new features, and utilities…but they all have to kneel under bitcoin.

I don't know how you think about altcoins and Bitcoin in terms of market capitalization, even though you have been in this forum for a long time and of course you have known Bitcoin for a long time until now. But somehow you value a project and altcoins and Bitcoin so today you say it is. To me this sounds a little funny, because of the thousands of altcoins, none of them has been able to rank first as the best cryptocurrency on coinmarketcap and coingecko.

This means that all altcoins don't have as many enthusiasts as Bitcoin so that the transaction volume of altcoins is still far behind Bitcoin so there is no reason whatsoever for new projects or altcoins to control Bitcoin in any way in the market even though they have many partners with stablecoins in the market. And I think that Bitcoin currently has a lot of pairs and cannot be beaten by any altcoin (including new altcoins).

it has nothing to do with it at all, precisely with the increasing number of altcoins, it means that the adoption of crypt globally has increased, but the problem is that the number of altcoins that are increasing in the market does not indicate that the crypto market is growing well, it could be that most of the altcoins that appear today are shitcoins , which was launched only to create hype in the market.

I agree that it has increased to a great level and I feel like it just spreads the love of crypto. So all in all I believe that raising the amount of coins that exist today may not be a great solution or a great marketing tool, but it is not a bad one neither.

Sure most of them are shitcoins I agree with that, 99% of coins out there today are shitcoins, interestingly there are more coins not listed on CMC than the ones listed, and there is like 15k+ coins listed there, so that means there are 50k+ coins out there, and I would vouch for like maximum of 10 of them, the other 49990 are all shit. And yet, I still support they should exist because that means we are on the right track and that does mean that it is going to a right direction and should not be an issue.

Altcoins and Bitcoins are completely different. It doesn't matter how large the number of altcoins in the market, there will be no natural impact on it. But the negative impact of some top level altcoins can effect bitcoin price temporarily. We all were able to see a big fall of Altcoins like Luna and FTX. Due to which Bitcoin price affected temporarily. But there are many altcoins that are created and die that have no effect on Bitcoin or cryptocurrency. It is important to remember that there are many altcoins but there are very few good projects actively trade in the market. And that's why no matter how many altcoins increase, it won't have any impact on the market.

I once, read regarding your question, with the title: The Top 7 Most Influential Factors on Bitcoin Price (https://beincrypto.com/the-top-7-most-influential-factors-on-bitcoin-price/)

In the seven factors above, I see the one you mentioned is included in that category.

Conclusion:

Whether we do like it or not, competition is something that would really be inevitably to happen,considering that there would really be developers who would really be creating something which is trending and which of
course they would be trying out to create something which is really basing up on the flaws on the current coins that having on the market on which they would really be tending to be much more better.
As we do speak about Bitcoin then we do know its flaws and lacking and this is where altcoins would be kicking in and trying to patch up those con's but since we've seen that despite of its con's
its still mainly been supported by the community. Why? Nothing beats out the origin of crypto but wont really be surprised if ever one day there would really be some flip out.

Just let those coins floating around on the space on which to those  who do have real use case would be able to survive and a couple of shitcoins or meme coins on this space.
Its better to have other options for us to deal with and not just solely focusing on Bitcoin but well there's no way on stopping that though even if we do like to.

I believe it has a positive impact. The variety of coins makes crypto more appealing to the masses, especially all of these Meme coins. A lot of retail won't get into bitcoin, but they will buy Doge or PEPE. Eventually as they learn more they will switch to bitcoin but alts are needed to lead them to the king