What effect does a growing number of altcoins have on Bitcoin

[laurenB7742]

So what could be the long term effect of having more altcoins on the market, will they help build or break bitcoin?
Could exchanges play a major role in ensuring shitcoins don't get to see daylight to protect coins that are established to grow?

If thousands of Altcoin projects have appeared in the market, I don't think there will be any loss of Bitcoin. Bitcoin is the most trusted and the altcoin that has been forked from Bitcoin is not even close to the value of Bitcoin. Bitcoin has always been dominated by the market, Investors will never let Altcoin dominate over Bitcoin. People know the name of Blockchain and altcoin because of Bitcoin so it is never possible for Altcoin to surpass or overtake Bitcoin.

[Suharti12]

A lot of Altcoins growing is good, because this is proof that Cryptocurrency continues to develop. And this will also have a positive impact on Bitcoin, because the increasingly popular Cryptocurrency will make Bitcoin even more popular because Bitcoin is the first Cryptocurrency to be recognized by the public. The demand for Bitcoin will increase and this will make the price of Bitcoin higher.

[thayes09]

In this market, the value of BTC is almost absolute, and it is a belief for the market that when the price of BTC goes up, it will lead to a series of altcoins increasing in price and vice versa, when the price of BTC drops suddenly it will cause altcoins plummeting, all relations of BTC and altcoins are a resonance for the crypto market only.

[Wakate]

Most of these altcoins are upgraded on the basis of Bitcoin. The foundation is from Bitcoin, so I think it is difficult for other altcoins to surpass Bitcoin unless their founders have something new, from history. Look, almost every time Bitcoin rises, many altcoins also rise, but when Bitcoin falls sharply, no altcoin is immune, so they cannot affect Bitcoin, but Bitcoin The currency is guiding and influencing them.

Bitcoin as we know is the major crypto coin that have existed for long and have gotten the heart of many investors to have believe in Bitcoin which have triggered the so call altcoins that are coming out of the market now.  I don't think there would be any effect if the market is full of plenty of altcoins which will also contribute to the market cap of crypto making it gigantic and substantial for anyone to select from.

Since every cryptocurrency are attached to the movement of Bitcoin, then I don't think there is any way altcoins could  surpass the price of Bitcoin which is impossible for me to think of. I have seen coin which was pumped up to $40k but still fell after it was pumped which is why it is rare for any altcoin to compete with Bitcoin.

[(o)(o)ilikeboobs(o)(o)]

There are more and more altcoin projects, and many of them have a large-cap adoption environment. In fact, they are gradually taking over the majority of Domain BTC.D. It is a good sign as the crypto market is growing and becoming more decentralized. Bitcoin won't be as large as it was 10 years ago, when it accounted for 99% of the total cryptocurrency market capitalization. I think that no matter how many altcoins there are, it will not affect Bitcoin much.

[Dhoe]

what is the effect of increasing the number of altcoins on bitcoin,,I don't think there will be any effect,Overall, people can see Bitcoin as a less risky and more secure investment option. Meanwhile, altcoins (at least for the most part) fall into the ‘gambling’ category. New altcoins are usually very risky, especially when their market cap is low.

[conected]

what is the effect of increasing the number of altcoins on bitcoin,,I don't think there will be any effect,Overall, people can see Bitcoin as a less risky and more secure investment option. Meanwhile, altcoins (at least for the most part) fall into the ‘gambling’ category. New altcoins are usually very risky, especially when their market cap is low.

- Well, the fluency of your comment coincidentally explains the wonder of how altcoins affect bitcoin as it recruits new warriors, one thing exactly we can see is long lines of people were kept waiting in line to wait for a bitcoin purchase, its reliability is much better than the number of other gambling altcoins, the implication for the increased number is just to mark the importance of bitcoin to the crypto market, crypto can mass produce similar positions but the first code is still indestructible.

[savetheFORUM]

I was just thinking, most new projects i.e the altcoins we have today are really not bringing anything new to the table other than enriching the devs themselves, who have these projects milking the life(value) out of established coins like bitcoin which could be the cause of been bearish or the extra load that's slowing bitcoin from going to the moon.

So what could be the long term effect of having more altcoins on the market, will they help build or break bitcoin?

Could exchanges play a major role in ensuring shitcoins don't get to see daylight to protect coins that are established to grow?

Mostly peoples invest in altcoins because they feel they have some quick profit from these as early adaptors and these are giving good return to them with developers also having some good with they are going out of market, but it's not hurting bitcoin because it's already leader and have some good faith from big community.

Altcoins having no effect on bitcoin market but supporting for cause of reaching magic figure of $100K in near future because now NFT and Defi is also bringing good number of investors which is good for this all.