I agree completely with the "coin a day will remove the scarcity that creates value in cryptocurrency" but as the OP says, Bitcoin has gone up despite that. It'

I agree completely with the "coin a day will remove the scarcity that creates value in cryptocurrency" but as the OP says, Bitcoin has gone up despite that. It's only because Bitcoin has the brand. There could be 1,000 competitors but the money will go where the brand name is because that's where everybody else is putting their money. The only coin with any chance of unseating Bitcoin is Ethereum once the Eth2 conversion is done (increasing the speed and reducing the cost) simply because there's been so much community buy in and ecosystem around it that it will become the defacto network for everything.