Cryptocurrency is becoming increasingly popular in the modern world. We spend a significant part of our lives in the Internet: communicate, look for information, make a purchase. Often you have to pay for all this and cryptocurrency is coming to the fore in this sense. At the moment it is one of the most promising types of electronic money.

Bitcoin, as a cryptocurrency, began to function in 2009 when Satoshi Nakamoto published initial materials on the Bitcoin network. This is a peer-to-peer network, in other words, decentralized with equality of all participants. Bitcoin was designed to enable each person to manage directly their expenses and income, excluding third parties from this chain. After Bitcoin began to gain popularity and found its admirers its creator lost interest in his creation and ceased taking part in its functioning.

All what had been planned was realised: it is a decentralized network, the accuracy of all transactions is determined only by the correctness of the given algorithm and only by it. Well, third parties are excluded, but if the user enter the wrong address, pressed the wrong button or forgot the key, the funds will be lost forever, since all the conditions come from the clear algorithm embedded in the program and there is nobody who you can turn to.

In October 2009 Bitcoin gets its initial rate: $ 1 for 1,309.03 Bitcoin. Of course, no one even tried to calculate the cost of one Bitcoin, because this amount was negligible. By 2010 the cost of Bitcoin began to grow and at this time one of the users purchased a pizza for ten thousand BTC, which was about twenty-five dollars. In 2011, due to the crisis, the rate of Bitcoin was extremely unstable: a rapid fall in February, then reaching parity with the dollar and pound sterling and by the end of March the cost of one BTC was slightly more than $ 31.

2011 was not very favorable for Bitcoin cryptocurrency. After a phenomenal take-off and reaching a value of $ 31 the Bitcoin rate drops sharply to $ 10 for 1 BTC. This was associated with a reduced confidence in Bitcoin cryptocurrency due to the a wave of hacks and stealing the savings of many wallets.

In 2012, Bitcoin Central was created, which, however, had no effect on the course. So, the Bitcoin exchange rate was actually stable and unchanged from 2011 to 2013, when a new significant increase occurred: by April 1, 2013 the value of Bitcoin currency reached $ 100 and for another nine days had being growing steadily. As a result, by April 10, 2013 the cost of one BTC was $ 266. However, in October the Silk Road website ceased to exist which caused Bitcoin's fall to $ 109.

In November 2013 China begins to do transactions using Bitcoin and its cost increases to the level of 1242 dollars for 1 BTC. However, by December 5 China prohibits any operations with Bitcoin and its rate drops again and continues to steadily decline throughout the whole of 2014.

In 2016, there is not only market fluctuations but also various political upheavals, which, of course, affect the cryptocurrency. In that year, one of the main developers Mike Hearn leaves the project and during this publishes an article in which he predicts a rapid decline of the Bitcoin rate due to its focus on the Chinese market. This causes the collapse of the cryptocurrency rate at $ 50. Despite this, there is a significant expansion of the Bitcoin distribution area: Japan recognized Bitcoin cryptocurrency as one of the varieties of virtual currency with which people can make payment, and the South African marketplace Bidorbuy began to accept payment in cryptocurrency. However, the cost of Bitcoin had not returned to the previous value yet and the cryptocurrency rate was actually kept at around 300-400 dollars.

Today Bitcoin is already well-established and having mastered the cryptocurrency market. This is evidenced not only by the keen interest of businessmen and politicians to Bitcoin at the moment, but also by its dynamics. In November 2016 1 BTC could be purchased for 724 dollars, then at the end of October 2017 - for 5 thousand dollars.

So, it can be said the prospects for Bitcoin are great. Such conclusion can be made based on the fact that it is impossible to fake Bitcoin and there is no susceptibility to cryptocurrency inflation, which gives it the opportunity to become an alternative to real money. Moreover, it is safe to say Bitcoin will become stable cryptocurrency as the market strengthens and new applications emerge.