Even though bitcoin is decentralized, are people still able to develop it and evolve it to compete with other crypto as time goes by?
One of the reasons that Bitcoin as a the first cryptocurrency becomes number one is its huge community. Because of this, i think, on the contrary, the other cryptocurrencies should compete the existence of bitcoin.
This looks like the main factor 'the huge community', even those coin that forked out of bitcoin because of the governance issue still look back at bitcoin's community, they cant have that size. The market trend now is adding up to the bitcoin community while investors are dumping other coin to hold bitcoin, it also looks like the only fund coming in is into bitcoin. The confidence is high in bitcoin and the generally known name in the space.