Although Bitcoin’s price has been very unstable it has developed significantly over the last few years. In the year of 2013 it foreshadowed its success as its price went from being around $30 to a peak of $238. This was followed with a major increase when its price climbed to a peak of over $1,100. This was seen as the golden age of Bitcoin as many early investors had become rich as in 2012 the price was a meagre $12. This then led to dramatic events as the supply was plentiful with many wanting to unload their fortunes. As the demand decreased so did the price, and in the matter of a few months the price had dropped to around $400. With many aspirations low investors started holding on to their Bitcoin and this only led to more misery. In early 2015 the price fell to under $200 and this made some optimists predicting the prices to rise. However since then the cryptocurrency has made some progress as it is now $284.4 (at the time of writing). Hopefully it still has some progress left in it as it has attracted more investors and publicity than ever before.
Bitcoin has grown significantly as famous figures such as Mike Tyson and Sir Richard Branson have adopted it. It has grown from being unknown and only known by a handful of internet users to being used in pubs and coffee shops around the world. It has been used in more ways than originally thought possible and has created more jobs than ever before. Now people are using it to transfer money from countries on opposite sides of the world and people are working with others in different time zones to create new businesses. It has brought hope to masses and has inspired many entrepreneurs to create unique services that are more useful than ever in a time where technology is rapidly advancing. Many more people are using it and it is constantly growing. There were around 40,000 unique Bitcoin addresses used daily in early 2013, but now there are over 240,000 unique Bitcoin addresses used daily. This shows how more people are realizing how Bitcoin can benefit them and how the Bitcoin community is growing too.
Since Bitcoin started more and more users are realizing how some of the features of Bitcoin can be useful to them. A popular situation being where users are tipping waiters or paying for a coffee. Bitcoin can provide assistance as it has a minimal fee when transactions occur, whilst in the coffee scenario it can mean not fumbling around your pockets for change but quickly, and easily, sending Bitcoin straight to their wallet with minimal frustration. It has also inspired many new services and as Bitcoins feature improve so do the services it provides. At the start there were only a few services available where you could trade with it and sell and buy but now you can purchase gift cards, purchase technology, send money to relatives and even purchase medicine.