In 2017, cryptocurrencies entered the popular consciousness and ceased to be a specialist subject known only to a relatively small group of people. Stats from Google reflect this change by reporting that 'Bitcoin’ was the second most searched term of the year.

Investors of all kinds flocked to buy the cryptocurrency, and from November onwards the price skyrocketed, eventually hitting $20,000. However, sharp price corrections and market volatility mean that many investorsare still somewhat wary. In an interview with CNBC, billionaire Tilman Fertitta said he believes that the average person will not invest in bitcoin without first having some kind of insurance.

"An investor doesn’t have the money. It's just paper. That's all Bitcoin is, is paper, but it's not insured by the FDIC today. And until it's insured, a lot of people are never going to buy it."

However, Fertitta still believes that Bitcoin technology may become more widely accepted as a payment method in the future. 2017 saw financial institutions enter the cryptocurrency market, with the launch of futures contracts on the CME and Cboe exchanges. It is expected that Goldman Sachs and the NASDAQ will also launch Bitcoin products in the coming year, which could also encourage smaller investors to increase their support for the cryptocurrency.