At first bitcoin was just ignored and thought by most tech millionaires and many people as a joke. But we have heard a man who bought just 27$ of bitcoin when it was first created and his purpose was not to invest in it but just to complete his university degree research project. Surprisingly, he forgot it and one day its price climbed to over 1000$ per bitcoin. He came to realize he was having over 800,000$ worth of bitcoin. It is the true story and several more people have became millionaires out of bitcoin in just 3 or 4 years.
But then bitcoin price after reaching over 1000$ has slumped to the bottom of over 200$ because of the bankruptcy of Mt. Gox, the first crypto-exchange company. The company has lost thousands of bitcoin due to cyber hacking.
Since then, bitcoin price has fluctuating around over 300$ per bitcoin for significant amount of time. However, technological advancement is being done in the process to solve the leaking security of bitcoin. We haven't seen a lot of problems with hacking by cyber stealth from the time. Then bitcoin price started to climb slowly up due to the demand and acceptances from many businesses and individuals.
Sooner bitcoin price has passed 500$ mark. There was news about integrating blockchain technology into payment transfer and transactions in the bank instead of traditional credit cards. During this period, we have seen many crypto-exchange and brokers coming up into the markets. Also there are many investments in intensive mining plants across the world.
Without any problems and with more acceptances from businesses, governments, and individuals, bitcoin price has gone up from 500$ to over 1000$ very fast. Bitcoin price is purely controlled by the world supply and demand from users so there are no any institutions, royal families, or governments to control its price as the transactions are done using the Internet directly from one person to another. It is commonly called the decentralized currency of people and by people because banks have no power on it and banks don't involve in the transactions at all.
We have seen Indian government demoted some fiat currency and accepted bitcoin as the real commodity just like gold, oil, or silver. Zimbabwe started to resolve to using bitcoin instead of fiat currency due to its currency has been destroyed almost completely by the inflation. With these people are starting to worry about the stability of fiat currency in the financial systems as the governments are the ones who regulate and stabilize the currency and there are uncertainty of world economy like in these days.
We are contemplating the future of bitcoin now and many high net worth individuals and corporations are looking at the ways to join the movement and gain profits from bitcoin. Even though some governments don't accept bitcoin or try to regulate it, it is such an impossible tasks to do. The people are having more power and at the end those government will sooner or later endorse bitcoin. Bitcoin is simply a data on hard drive stored securely in the wallet. The transactions are verified by the blockchain ledger and proven and recorded by the world computer network. We can't copy the bitcoin into multiple bitcoins. To receive bitcoin, you have to get donation, mine it or buy it and there are no free ways to get it online. It is the real and secure digital money for the future.
In short, bitcoin has no way to go back and no way to disappear or be regulated. Bitcoin is the potential investment. Bitcoin has limited supply of only 22 million. When its number has reached the limit, there will be no more bitcoin to mine. As more and more people accept it, its price has no limit of jumping up. Some people predicted it to reach 10,000$ or even 1,000,000$ per bitcoin and we have seen the logic behind it already. Although there are temporary buy and sell in the market that causes it to go down or up, I still think bitcoin will jump eventually in the long term.
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