I realize this is a big concern in the cryptocurrency world. A lot of people want to see all the altcoins wiped off the face of the earth because they think it hampers their bitcoin retirement account. But does it really? I've been pondering this lately. If, for example, there is a massive surge to buy dogecoin again (selling bitcoin, of course), does that really drop the BTC/USD price? I'm having trouble seeing how it would. In my mind, it should ONLY affect the BTC/DOGE price, and not the BTC/USD price. On the one hand, sell BTC for DOGE would mean there are more bitcoins available to buy, but those available bitcoins are all bought by people selling DOGE right? Therefore, the buy/sell orders at the BTC/USD exchanges are not affected by people buying DOGE, and thus the BTC price remains the same. Am I wrong in my thinking?
Highly highly unlikely I think:
https://coinmarketcap.com/index.htmlCheck out the capitalization of the other coins... a dent compared to the 5+ billion in BTC.
Maybe the better question is in the future will they drop the BTC price perhaps?