Is the large variety of Altcoins hurting the market?

[Metall303]

Yes of course, the variety of altcoins is affecting the market negatively, Any investment in altcoin is bad for Bitcoin, Imgaine if the whole market capitalization is based on just one cryptocurrency, Bitcoin. That will mean a huge level of adoption and increase in price.

it's all temporary. we all understand that very soon 80 percent of those coins or tokens that exist now will not survive because they have no product and they are simply not needed to anyone. it will happen when bitcoin will improved technologically

[Mysteryla]

Sometimes the new coins that are being created have a way of bringing in new people into the crypto space and by virtue of that, there is addition of more market capitalization. The major factor that can cause serious reduce in market cap, is the existence of scam coins or projects, that after getting the targets, they would sell all that they got at very cheap prices, but good coins are still bringing about more development and growth in the market.

[chriseasan]

People that are investing in this tokens are hurting the market. When investors would be careful and would search for a good project and not blindly invest in every one, we would probably do not face such bad scenario.

[Tondya]

It is a bad thing in my opinion. Why we have to deal with a sea of shitcoins majority of which are directed on cheating? Definitely it's better to reduce its quantity.

[cupruri]

The main thing that hurts the crypto market is the large amount of scammers and fraud projects. As soon as the market recovers its value we would finally see much better ICO projects that would finally bring profit.

[voztata]

Human activities are innumerable, and if we talk about universal cryptography, I think that a large number of coins and projects not only does not harm, but, on the contrary, strengthens cryptography in general.

I agree. But in my opinion, this immense number of altcoin in the market could be a menace in the sense that it will make the investment decisions bull of ambiguity and chaos. This is because with so many altcoins around, you have to have enough knowledge to spot the right coin and invest in.

People who do not have the knowledge might fall preys to the impotent projects and so loose.

[SportsbookBettor]

Maybe no or yes. Having a large variety of altcoins in the market means there are a lot of tokens or coins that are created by team but the mere problem is how they will survive in the long run. Do their tokens has real usage in real life and if no then it's just another shitcoin in the making and probably going in ico just to get money from investor. It's up to people where to put their money and ideas. We need to learn how to control our self and not making a decision that will ruin our investing.

[ObroQ]

  You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable.  In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto? 

It's a good thing for diversity but it's not a good thing because the market becomes saturated with coins that people don't really use. As some people in this thread sayed, the next bull run will show what coins worth keeping and what not.

[funnec]

Having so many altcoins in the market should have given room for competition that will help the crypto sphere to get better but because mist of these coins are scam,the market is suffering.

[pushups44]

Yes, I think the excess number of altcoins has an inflationary effect on the market, and to a degree siphons funds away from the more legitimate projects. However, this is the nature of the market phase we are in, where hype is still a factor, though diminishing. We have already started to see the market differentiate the coins with the strong brand names and active development teams from the rest, and what would be a healthy sign is for the correlation between bitcoin and the more questionable alts to break down so that they head to zero where they belong.

[Hans Groober]

The value of a coin does not depend on how many coins are currently created on the cryptocurrency market. The value of a coin depends on its technology and goals, and whether investors like it all and see whether they are promising.

[StephenJH]

A large variety of Altcoins cannot hurt the market cap of cryptocurrencies in my opinion. Having a variety of choices for investing is better than having to shortlist of possibly invested coins.

[Petchant]

I don't think there's any altcoin out there that has what it takes to exert negative influence on the the overall market. The only altcoin that can do that to some extent is Ethereum and it will only affect its token. Only Bitcoin can have either positive or negative impact on the overall market.

[voltesbit777]

A huge number of altcoins, most of them were almost dead coins, has definitely affect the confidence of investors. There were investors in the past who were hit by losses, scams, and frauds. Aside from investment side, the usefulness of the coins is also in question. How realiable these altcoins are. Imagine that even bitcoin hasn't been supported all thoughout the years.

[Stanlo]

I guess the large quantities of altcoins is what makes crypto looks bad in general ,I hope there will be a way that many of these altcoins will be dealt with, many of them have no reason of existing and yet many are buying them

[HELLOFF]

I guess the large quantities of altcoins is what makes crypto looks bad in general ,I hope there will be a way that many of these altcoins will be dealt with, many of them have no reason of existing and yet many are buying them

There are a lot of unnecessary coins on the cryptocurrency market.  The fact is that it is necessary to analyze the advantages of each altcoin, and then it will be possible to speak with confidence about the prospects of such coins.  Profit from the Altcoins trade is one thing, but the demand for these Altcoins in society and their practical use are completely different.

[Adriano2010]

I also think are too much altcoins and some of them affect the price, but i think this happen not this year but much more last years when people buy that coins with bitcoin and other sell them.

[ipanks]

  You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable.  In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto? 

In my opinion, the huge variety of altcoin is good for crypto because people have bigger chance to make money although many of the altcoins are only pump and dumps of the price. With that number, I think people can learn to analyze each coin and find the profitable coin so they can buy and sell the coin. I don't think that the coins were a shitcoin or not, as long as I can use the coin for making a profit then that coin is one the good coin for me.

[Runbitup]

I also think are too much altcoins and some of them affect the price, but i think this happen not this year but much more last years when people buy that coins with bitcoin and other sell them.

with a lot of altcoins, I think it definitely affects the market because altcoin is divided into 2, namely altcoin is developing and not developing so there will definitely be a cycle of losses and profits and that makes the market go up and down.
moreover if many people suffer losses it will make investors down and that can make the market go down.

[monineklutak]

I think it will be bad, but there will still be survivors and consistent, with more variety the market will not be able to keep up so that there will be a lot of crypto being eliminated because it's very important for us to be careful in investing and because I am people who are less experienced then when I have to invest in existing coins, I will only choose top coins like bitcoin or ethereum