Network effects allow BTC to be the winner take all in the cryptocurrency market place.
When describing the power of networks, many point to Metcalfe's Law, which states that the value of a network is equal to the square of its user base. As a result, adding new members to a network causes it to enjoy disproportionate gains in value.
Only about 1.3% of the world's population owns bitcoin.
Using Metcalfe’s Law, one bullish analyst suggests a $12,000 to $13,000 fundamental value to bitcoin.