Looking back at 2015: Bitcoin recovers from adversity

     There are some questions that often cross our minds. For hardcore cryptocurrency fans, they might be thinking: "What will be the highest point of Bitcoin in 2016? Where will Bitcoin go and what will it do? What kind of progress and new strategies should we expect?"

     2015 has been a year of twists and turns. Starting in January, the price of Bitcoin hit an all-time low – below $200, leaving many people frustrated, upset, and disappointed. Even as Bitcoin has made some inroads in the financial world, we’ve watched the numbers (along with our hopes and dreams) continue to fall.

     The price is finally starting to climb, but there’s nothing to get too excited about. Throughout 2015, Bitcoin has hit multiple lows; Bitstamp fell victim to one of the largest hacks in history, reportedly losing $5 million in customer funds. Mark Karpeles , the head of the now-defunct Mt. Gox , was arrested in Japan on suspicion of nearly $500 million disappearing. And then there’s the infamous BitLicense, a document that digital currency businesses and enthusiasts alike hate and detest.

     In the midst of all this, the price of Bitcoin has still managed to remain relatively constant, hovering between $200-250 for the entire year. In November, the currency became wildly popular in China, causing the price to rise to $260, $270, and even $300, which was exciting, but it hasn't stopped yet. Of course, in late November, the price of the currency hit $500 and then suddenly dropped again, causing people to experience a slight panic, but the drop was not big, and it started to rise again. Now the price is over $400, and it is likely that this price will remain until the end of the year, and 2016 can move towards more stable prices.

     One article explains that Bitcoin will eventually hit the million dollar mark. But it will take a while, and the competition between currency and paper money will be forgotten over time.

     Another thing that happened in 2015 was the devaluation of some currencies. The ruble depreciated, the yuan depreciated, and a large number of global currencies were on a downward trend, which made some people pay more attention to Bitcoin and digital currencies. Whether it reaches $1 million or not does not define Bitcoin, nor does it define what it represents or does. While other currencies have fallen, Bitcoin has always managed to survive, and it is this strength and charm that makes Bitcoin so popular, respected and loved.

     So we all think that Bitcoin will continue to exist, and given the current situation, 2016 will definitely be the year when Bitcoin continues to be promoted on a large scale.