Abstract
With the volatile price of Bitcoin having received widespread media and investor attention in recent years, this paper surveys the existing literature on Bitcoin which focuses on the differences between Bitcoin and traditional currencies and the impact on the real economy. In doing so, various literature and scholarly insights are discussed to formally clarify the economic implications of Bitcoin in the absence of a centralised entity. A SWOT approach is then used to analyse its strengths, weaknesses, opportunities and risks, before parsing Bitcoin's price trends and making predictions for the future based on specific events and news. Society remains sceptical and uninformed about this cryptocurrency. The evidence suggests that bitcoin returns are significantly slightly inefficient at this stage, but there is also a great deal of uncertainty about the future and it could be on the move.
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