The cryptocurrency market today has more than 5000 cryptocurrencies and with Bitcoin heading them as number one, the question on everyone's mind is why Bitcoin is the number one cryptocurrency. To best explain this difference it's best to mention that Bitcoin was the first to be made in the cryptocurrency market and as a result has determined the direction of the block chain technology at large. Besides the fact that Bitcoin has the largest market capitalisation in the entire industry, it's also important to mention that the technology in itself is full proof and watertight preventing the entire network from malicious attacks.
Another factor to consider is the fact that its supply is capped at only 21 million coins, meaning there can only be 21 million Bitcoins and nothing more also meaning that it cannot be counterfeited like fiat currency which has an unlimited supply. Just like Gold the scarcity of Bitcoin makes it special because basic economics dictates that when something is scarce or has low supply, the price is likely to be high as a result of supply and demand.
But one may ask that since there are also cryptocurrencies with smaller capped supply, why aren't they as big as Bitcoin and the answer is the reputation that Bitcoin holds relative to other cryptocurrencies, you know just like Gold even if we were to discover another precious metal tomorrow people will still trust Gold more than the newly discovered precious metal because of the reputation that Gold has made for thousands of years just like people trust Bitcoin for the reputation it has maintained for the past decade "it's better to trust the devil you know than the one you don't know".
Another special factor of Bitcoin is the fact that it is decentralised meaning it is not controlled by any central entity such as central banks in the case of fiat currency, this comes as an advantage because centralised assets have proven that they vulnerable to manipulation meaning if the centralised entity does not like you for whatever reason they could choose to freeze your funds anytime just like in the case of banks which is opposite to Bitcoin.
Thank you brother for providing us an information about bitcoin. It's really beneficial for all of us to understand bitcoin in easy way.