Seven years ago, a fellow went to purchase a pizza using something called Bitcoin to pay for the purchase he had just made. Fast forward to November 2017, the same little digital token which used to be worth less than a penny comfortably sits above $8000. Despite all the fluctuations and controversies around its "volatile persona," the cryptocurrency-in-chief, also known as Bitcoin, surpassed even the most optimistic predictions and its surge may not be over yet.

Coinmarket.com credits Bitcoin with more than half of the entire cryptocurrency market share.

That fact alone stands for stability and ultimately a growth trend. Moreover, it surged above $8000 per unit, despite suffering from a major split earlier this year. His most valuable cousin, Bitcoin Cash, is also gathering steam as it surged past $1000 per unit.

Some see Bitcoin as a curiosity while others associate it with a financial revolution

Humankind stands as a complex ecosystem consisting of many unique parts. Money makes things happen, so in a money-driven-ecosystem, an alternative can cause a deep earthquake that can finally alter the very foundation of the whole structure. Thus, for many people, skeptics or not, Bitcoin is widely regarded as a fluke in the system. A glitch that has to be corrected at some point in the future.

There is a lot of buzz around the idea that it's just another scheme that uses shady instruments to make a profit for a limited number of individuals. The whole Bitcoin (and cryptocurrency ecosystem) tends to feed that insecurity feel. But, what if Bitcoin is the first sign of a new era, the tip of the iceberg of what can be a total game-changer?

What can put Bitcoin into a field of legitimacy

In simple words, Bitcoin is a contemporary economic curiosity due to its very nature. Moreover, that novelty feel is what helps its price soaring up constantly. One thing in for sure, there is a constantly growing demand in the market for this specific product, a well-targeted hunger on what's new into the financial ecosystem.

In theory, when the demand spikes, the price should go lower, but Bitcoin has yet another unique feature, a limited supply, a total cap that makes things even more interesting. At the moment, entities and individuals as well, are buying Bitcoin with the sole hope of selling it later at a higher price. That's what keeps the price per unit high.

And despite having so many risks to deal with, these bold investors can enter their retirement party sooner than expected. All that Bitcoin and the cryptocurrency market need is a bump onto the legitimacy hemisphere. And that bump should come from a well-established financial entity with a solid traditional background to support its opinions on. And that would be a central bank from one of the most developed countries in the world. If such a scenario would come into play, the whole economic structure may face imminent change.
© ALL RIGHTS RESERVED