2015 was a banner year for bitcoin. It brought some key developments for the digital currency’s acceptance, particularly by the financial sector. But like every year since its 2008 debut, bitcoin’s progress came with challenges.
Bitcoin has not been embraced by enough consumers, businesses and government to be called a mainstream currency or commodity. But 2015 brought more signs that it is on the right path, and its naysayers have never been more discredited.
There is no question that 2015 has brought a change in tone of the conversation surrounding bitcoin.
Bitcoin’s price, as measured by the exchange rate versus the U.S. dollar (BTC/USD) spent most of the year relatively stable. The price began the year at $313.92, then slid below $200 early in January before recovering. It stayed in a $200-to-$300 range until surging at the end of October.
By Nov. 3, the price surpassed the $400 ceiling to $408.74 on Nov. 4 before falling to $3.12.58 on Nov. 11. It then began on an upward trend, hitting $463.58 on Dec. 18.
A Respectable Fluctuation
A range that represents 50 percent fluctuation is not generally viewed as stable for a currency, but following a couple of