Created in 2009, Bitcoin is the first ever cryptocurrency. It introduced the concept of a decentralized currency that can be exchanged peer-to-peer without the need of a central authority or other intermediaries.
China’s crackdown on mining earlier this year certainly had a negative impact in the short-term, however it did force geographical decentralisation of the hashrate which was around 65% down to around 40%, centralised in China. An advantage for Bitcoin's decentralisation.
Single person/entity (Satoshi Nakamoto) owning 1 million BTC which represents ~5% of the entire supply.
Bitcoin is becoming a world class Store-of-Value and a force to be reckoned with, it has embodied the term “Decentralised Money” and given back people their freedom. Nonetheless, that does not mean Bitcoin will always reign as the largest cryptocurrency by market capitalisation as there are many more with better economic models and larger addressable markets.