Bitcoin started the demand for cryptocurrencies, and it has become the de facto standard for digital currencies. It would seem that the other cryptocurrencies, called altcoins, are altered versions of Bitcoin but with the same principle. Its growth is spurred by the need for a decentralized digital currency that can’t be controlled by governments as it is operated on revolutionary blockchain technology. As a result, the value of bitcoin is increasing exponentially, and it has had a meteoric rise from its value of $0.39 in 2010 to its value of $7,319 in November 2017.