It's still far from a safe bet, Reuters crypto currency correspondent Tom Wilson.

Even though we've seen the embrace off some big companies like PayPal or like Facebook of digital coin technology of Bitcoin of other Cryptocurrencies, Bitcoin is still very much on the fringes.

For many large investors, pension funds don't really like it.

Large asset managers don't really like it, and that's because there are still many risks associated with it.

Bitcoin soared 160% this year.

Steep trajectory of its rally echoes that of 2017, when a retail led buying spree pushed it to nearly $20,000 only for it to crash more than 50% a month later.

But 2020 isn't the Wild West of three years ago.

Fans of Bitcoin say that this rally is different to the 2017 bubble.

That's because the structure of Bitcoin markets has changed quite considerably.

Now there are larger investors involved in the space instead of a no overwhelming majority of retail investors.

At the same time, there are more sophisticated derivative markets so investors can hedge their positions.

Onda also a wider variety of custody services so investors can safely store their digital coins.

It's easier these days for professional investors to seek exposure to crypto.

Their involvement, the argument goes, may lead to more liquidity and less volatility.

As regulation develops, big names are moving into the market.

Bitcoin is also benefiting from increased appetite for riskier assets following government and central bank stimulus measures to combat recessions.

Yet for all the improvements, it remains highly volatile.

The sector is still opaque, trading data remains patchy and concerns over market manipulation are rife.

2020 could just be another Bitcoin bubble waiting to pop.