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Bitcoin Forum / Re: What would happen if Bitcoin were the only cryptocurrency in the market?
« on: December 08, 2023, 09:18:19 AM »If there's no other currency than Bitcoin, Bitcoin growth is not as fast as it gets. People might think that it will make Bitcoin more valuable, but in reality it's not.
Having altcoins make people to choose whether Bitcoin or Alts, but without Alts people choose whether to buy Bitcoin or not.
It could be a bad situation if Bitcoin was the only cryptocurrency around. Without other options, there wouldn't be any competition, and investors wouldn't have choices for potentially more profitable investments. In this scenario, if Bitcoin's value goes down, investors might quickly sell, risking losses. It's crucial to understand that having many different cryptocurrencies is good because it promotes competition, sparks innovation, and gives users various options that match what they want. If Bitcoin were the only cryptocurrency, it would have both good and bad effects on the crypto world. In this world, there have to be Bitcoin for altcoin to exist and vice versa.