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

[franky1]

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


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

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[inthelongrun]

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.    

[ChiBitCTy]

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.

[RealMalatesta]

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.

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.

[MusaPk]

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.

[KiaKia]

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.

[franky1]

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

[Furious 7]

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.

[Yatsan]

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.

[Fatunad]

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 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.

[KennyR]

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.

[Marvelman]

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.

[arwin100]

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.

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.

[landheer]

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.

[BALIK]

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.

[Nrcewker]

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.

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.

[bounceback]

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.

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.

[valeneu]

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.

[thecodebear]

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.

[Z-tight]

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.