is attracting a ton of attention,

but is it ready for the mainstream?

JPMorgan Chase CEO Jamie Dimon recently called Bitcoin

a fraud and said that cryptocurrency prices

are in a bubble that will eventually burst.

Many investors have stayed on the sidelines

as cryptocurrencies are seen as too volatile

and don't have the safeguards that most financial assets do.

A number of hedge funds, however, are investing

in cryptocurrencies, and Goldman Sachs is reportedly

exploring how it can help clients trade digital tokens.

Other companies are stepping up efforts

to bring cryptocurrency to the mainstream,

opening regulated exchanges, creating future's contracts

and attempting to list exchange traded funds.

The recent surge in cryptocurrency prices

has coincided with a flood of interest

about the blockchain technology behind Bitcoin,

which uses a decentralized and public ledger

of transactions that can't be manipulated.

IBM, Microsoft and Toyota have all invested in blockchain

and are looking at potential applications

ranging from food safety to driverless cars.

So what is preventing even more widespread adoption?

Regulation, or the lack thereof.

In July 2017, the SEC announced that federal securities law

may apply to some cryptocurrencies,

without providing concrete guidelines

to determine which ones.

Meanwhile, China has outright banned ICOs,

or Initial Coin Offerings, along with the exchanges

where coins are traded.

Guidelines for individuals that mine and trade

cryptocurrencies also vary wildly,

with countries like Venezuela going as far

as putting miners in jail.

So what's next in the year ahead?

The cryptocurrency community is eager for clarity

from regulators on ICOs, trading, mining and taxes.

As that happens, more investors and end users

could dip their toes in the water.

Many have compared the current state of blockchain

to the early days of the internet,

a digital wild west teeming with opportunity

and just like the internet,

there will likely be winners and losers.