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Bitcoin currently has a marketcap of 135 bn$. But the whole collection of cryptocurrencies has a marketcap of 300 bn$. ( https://cryptocoincharts.info/coins/info )
If no-one had been able to create any other coins, Bitcoin would therefore have had a value of 300bn$, but is only at 135bn$.
This is a 55% drop in value
This is because it is easy to create more cryptocurrencies.
Value is not created out of thin air - everytime a new crypto is launched it drains away value from the other cryptos including from Bitcoin.
The loss until now is 55% and with a rapid increase in the amount of cryptos generated, both on their own and from forking Bitcoin, the inflation and degradation of value will continue
I agree that new cryptocurrencies lead away Bitcoin's investors. It's normal business fluctuation. If no-one had been able to create any other coins, Bitcoin would therefore have had a value of 300bn$, but is only at 135bn$.
This is a 55% drop in value
This is because it is easy to create more cryptocurrencies.
Value is not created out of thin air - everytime a new crypto is launched it drains away value from the other cryptos including from Bitcoin.
The loss until now is 55% and with a rapid increase in the amount of cryptos generated, both on their own and from forking Bitcoin, the inflation and degradation of value will continue
