Many experts believe the virtual currency is set to dominate financial transactions which has led to substantial trading in the bitcoin domain. The digital currency strengthened to an all-time high. The ease of cross-border operations without the need for central bank support attracts many people to park their funds in Bitcoin investments.  Scarcity is considered one of the main causes of the rally, only 21 million bitcoins are in existence, currently, 90% in circulation. The price of Bitcoin is determined in a free market regime and is not affected by monetary policy. Although Bitcoin enthusiasts believe that the rise of virtual currencies is inevitable, history offers a word of warning.