Bitcoin is the first decentralized peer-to-peer payment network that is powered by its users with no central authority. Its sole purpose is to become a new payment system on its own.
Over the past 12 months, the price of a Bitcoin has surged tremendously. Back in January 2017, the price of 1 BTC was about $700 roughly the cost of a flagship iPhone. Come December 2017, it almost scaled up to $18,000 the cost of 18 iPhone Xs. And you would be surprised to know that the price was just around $2500 in August 2017