Over the past few weeks, Bitcoin continues to strengthen its market dominance, while the price of altcoins has been falling sharply with its shrinking market value.

Significantly, the increase of Bitcoin’s market share doesn’t result from the rise of Bitcoin’s price but the decline of altcoin’s price.

According to Coinmarketcap, the market value of Bitcoin is $187,144,786,275 (by 20:00, Sept. 8), making up of nearly 70% of the total market value of crypto ($267,067,297,500).

So why is the present bull market different from the previous? The consensus on the future of crypto is surprisingly unanimous— Bitcoin is going all the way, but altcoin is hard to make a difference.

Yesterday, 15 anonymous bitcoin addresses sent 94505.8 bitcoins to an anonymous address, worth about $1018 million which is undoubtedly one of the largest bitcoin transfers in history. It is speculated that these transfers may be related to Bakkt, which began accepting customer deposits on September 6.

Max Keiser said: “Institutions are building inventories for future market-making needs.” Meanwhile, futures prices on the Chicago Mercantile Exchange (CME) soared. This surge means that institutional investors are more interested in Bitcoin. Besides, the current political and economic situation such as the China-US trade war, the upcoming British withdrawal from Europe, and hyperinflation in Argentina and Venezuela make traditional investment risky and people are turning to hedge assets such as gold and Bitcoin.

ETH, the second-largest crypto hasn’t recovered from the bottom of December last year to December 2017. The current price is $179, only 12.3% of its all-time high of $1432.

ETH experienced a bull market in 2017 as tokens produced on the ETH were used to raise funds through the initial issuance of coins. As the ICO fever faded, people began to liquidate their ETH holdings. Now, ETH faces the problem of scalability, which makes it impossible for technicians to use it for formal projects. Now its current market share is only 7%, while Bitcoin’s market share is 10 times that.

Willy Woo, a well-known crypto analyst claims that although Bitcoin technology is outdated, there is no other crypto asset that is likely to achieve the ‘Lindy Effect’ established by bitcoin. (Lindy effect refers to the future life expectancy of some non-perishable things like a technology or an idea is proportional to their current age, so that every additional period of survival implies a longer remaining life expectancy) He further asserts that, in the eyes of investors, the key is utility. To establish the ‘Lindy effect’, greater liquidity and longer life are required. More importantly, because of its predefined market value, Bitcoin will continue to dominate and lead to an increase in its price.