bitcoin has a lot competitions: those from altcoins, though now they are all small, and those using blockchain technologies..
Where is the competition with alt coins? Any altcoin which is yet really competing with
BTC? Sure some use alternate algorithms and some of them are really promising. But I still don't see a real competition.
//alex
You will see it after a lot of the financial institutions are using hyperledger, soon. A lot of the thing with getting sync with hyper and totally the serious competitor for bitcoin has come. Just a problem of times.
Altcoin like a small fruit below of the big tree.