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St. Louis Federal Reserve Report: Increased Supply of Altcoins Will Decrease BTC's Value

19:24 Saturday , January 12th 2019
The creation of competing altcoins is likely to place downward pressure on the prices of all cryptocurrencies, including Bitcoin (BTC). This conclusion was found by research conducted by the Federal Reserve Bank of St. Louis and published on Jan 11.
The report cites two perspectives: Bitcoin bulls' belief that the capped supply and increased demand will increase BTC's price, and the bears' belief that its price will fall to zero.
The researchers state, "We think the future price path is more likely to remain bounded between these two extremes."