Bitcoin has been faced by a number of challenges in the past years since it was founded. The most significant ones were when its founder was arrested and sentenced to life in prison over allegations that the currency was being used to service the black market with drugs and illegal services.
At the same time, its largest exchange market in Japan went bankrupt due to allegations of laundering money. A few years after these incidents Bitcoin's prices crashed to $203.77 but almost immediately they started a steady climb upwards increasing to $700. Experts say that this is an indicator that the allegations against the currency were false.
Another thing that puts Bitcoin at an advantage is the fact that it is an alternative currency that people from countries with currencies weaker and less stable than the dollar are opting for considering it serves both as an investment and a medium of exchange.
Although Bitcoin decreased in value from $1,300 to $203.77 it has picked up and is now going for $5,705.86. The question in everyone's' minds at this point is will bitcoin reach $10,000 If this trend picks up, then in the next few months Bitcoin will reach a peak of $10,000 or even supersede that expectation.
Yes, it has had downfalls but it seems that Bitcoin is growing popular thus making its prices to hit the ceiling.
Bitcoin is definitely gaining more and more popularity. My brother himself even invested in it just last week.
I'm definitely one of those hoping that it will reach $10,000. It's halfway there already. It's such an exciting possibility.
At this point it's not a matter of if, but when. While I'm excited to see it rise, I'm more excited to see the rise of the altcoins. ETH, Dash, LTC et al, that's where the real profit will be made.