The start of the 2018 has shown to be an extremely volatile and testing time for Bitcoin. The largest cryptocurrency has seen it's value drop from $16,500 per coin all the way down to $6,000 before steadily climbing back up in the $8,000 range.
This is a very testing time for bitcoin with many questioning the value of bitcoin.
Bitcoin has some very serious issues that need to be resolved for it to remain the #1 cryptocurrency in the space. First, the community and developers need to decide on a consensus on what they want Bitcoin to become.
Is it a store of value or is it a currency made for daily transactions?
The argument that it is a store of value is a tough argument to make because of the large fluctuations in price in short periods of time.
The currency aspect of Bitcoin is being questioned as well with part of the community having enough support to create a fork, called Bitcoin Cash, that aims to be used for daily transactions. Bitcoin also has huge transaction fees making it economically impractical to be used for small ticket items such as a cup of coffee.
The implementation of the Lightning Network may be able to solve this issue and pave a way for Bitcoin to continue it's growth.
Only time will tell where Bitcoin ends up.
Check out this article by Forbes: https://www.forbes.com/sites/forbestechcouncil/2018/03/29/the-problems-with-bitcoin-and-the-future-of-blockchain/#548dc9ef68dc
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