Bitcoin's rise threatens traditional currencies, governments urged to take action.
Bitcoin has made significant progress in a short time, but not all countries accept it yet. Its use in the financial market is increasing. A study looked at Bitcoin's progress from 2015 to 2020. The study found that gold and oil prices have a negative relationship with Bitcoin price. The volume of Bitcoin transactions is increasing, suggesting it could be a major competitor to other currencies. If not controlled, Bitcoin could create a bubble effect.