Bitcoin can never be 1000+ dollars again because of all the new coins

[thedarksun]

This is the reason Bitcoin has dropped in price. All these countless new coins and still coming everyday pressed down the price.

[Wandererfromthenorth]

no. just no.

Bitcoin dropped in price simply because after a bubble we have a long period of bear market.

The shitcoin market has not much to do with bitcoin price.

[DeathAndTaxes]

The Bitcoin money supply is ~$5.6B.  The top 99 alt-coins combined have a combined money supply of $550M which is less than 10% of Bitcoin  Want to rethink your theory.

[Carra23]

This is the reason Bitcoin has dropped in price. All these countless new coins and still coming everyday pressed down the price.

Really? Thats the reason? You are insane.

If anything a lot of these alts are dumped for Bitcoin and help the price.

[KFR]

"Countless" eh?

[YipYip]

the poor guy is new and off his meds

[Carra23]

the poor guy is new and off his meds

He probably bought at a high and now trying to find others to blame.

[Alley]

What happens when adoption and demand increases and there arnt enough coins for everybody?

[Melbustus]

The altcoin market has been pretty consistent for years in being <10% the "market-cap" of bitcoin. Its magnitude rises and falls with bitcoin, but its relationship with bitcoin rarely changes. Generally speaking, introduction of new alts just dilutes the market for incumbent *alts*.

So, theory rejected.

Also, OP scientific method fail.

[hello_good_sir]

Altcoins are just a hobby; they aren't competition for bitcoin.  Not only are they just a hobby, but they are a hobby that requires bitcoin to buy into.  Altcoins actually make bitcoin *more* valuable.

[bitcon]

and many alts require you to purchase them with what?  ah - bitcoin

[herzmeister]

altcoins do keep the Bitcoin price down a little because they invite people to diversify more than they would with Bitcoin alone. But the effect shouldn't be that strong, maybe 5-10% altogether. And as this technology is open source, this effect should have already been foreseen and priced in since, like, forever.

[dreamspark]

They also suppress the price a bit due to some of the crazy gains made by early adopters of certain alts and it would be unwise to not lock in at least a few BTC out of a 100 in profits.

[bitsmichel]

Lets get some numbers. So I used coinmarketcap.com information, to show how big the alt coin market is all together. I used the top 105 coins.



The alt coin market today is about 9% of bitcoins total market.

One of the presentators yesterday at MIT Bitcoin Expo said : "Evolution of internet like evolution of bitcoin :  real changes and real evolution is time consuming. " (details on bitprize.org)

[dreamspark]

Nice chart, puts it into perspective with a visual aid.

[Mervyn_Pumpkinhead]

Bitcoin can go over $1000+, because it's never wise to underestimate the power of hype and stupidity. I'm fairly certain, that bitcoin will experience at least one last bubble, that would be the one last attempt to break through the current threshold and get connected with institutional funding.
I'm not certain on the outcome of this attempt, because the vast criminal history of bitcoin's ledger should rise a barrier, but like I said before, it's never wise to underestimate the power of stupidity.
But I am certain, that there will be at least one big push to drive the price up by those, who are fanatical about bitcoin's success.

I also think that the price needs to settle low, to create some certainty and upwards pressure, before it can really jump off. My guess would be that the price currently needs to rest around $100-200.
The price would have stopped higher, if the market would have been more efficient, with dropping the price lower when the situation in China got clear already in December. The market went into denial, about the coming loss of the exchanges in China, and that in turn created an unhealthy investment environment, full of fear and uncertainty. This negative effect is the reason why the price won't stop at 300. An efficient market would have fallen quicker and therefor would have the ability to regain quicker and higher. Stability and clarity are the key words in an attractive investment environment.

When bitcoin's price will start to rise again, then it will pull most of the more popular altcoins with it. A lot of them will experience bigger waves then bitcoin itself. It's often been like that with smaller market cap. coins - their drops are deeper, but their rises are higher. When the recovery will come, then I'm also buying a small collection of low prices, but well built altcoins instead of bitcoin. I'm not very keen on investing into things that factor in hype a little too much. In my opinion, the network effect means crap, when you are dealing with high-complexity technology. Carbonated soft drinks and social networking sites can only live a long time solely on hype.

[bitsmichel]

6 September 2011 : "My first prediction and I recon its a safe one:  $4.5 within 7 days."
6 September 2013 :  133$
4 May 2014   : Current price=435$   "Bitcoin can never be 1000+ dollars again because of all the new coins"
6 September 2015 :  ?? whatever the outcome, it is certain the price will change 
 

[TrailingComet]

In the long run, I don't think the alts are going to have much of a price impact on btc
Alts will always exist but one maybe two cryptos will dominate, bitcoin will be one of them

[slushee]

All new shitcoins are SCAM and they live short. Dont't buy it

[UglyTroll]

All new shitcoins are SCAM and they live short. Dont't buy it

Haha, how do you know Bitcoin is not a SCAM and it wondn't live short