"While the system works well enough for
most transactions, it still suffers from the inherent weaknesses of the trust based model.
Completely non-reversible transactions are not really possible, since financial institutions cannot
avoid mediating disputes."
- Bitcoin whitepaper.
Introductory post asked "whats changed", since bitcoin was $1 to $12,000.
Geopolitical events are a considerable factor in determining any investment strategy. Anyone who has a modicum of interest in worlds affairs may have noticed increasing levels of diplomatic tension between worlds leading economic and military powers. With each power making subtle and not-so subtle moves to protect their own vested interests.
The moves can, and do, have effects on the price of currency.
Those that see value in bitcoin can offset potential losses by adding bitcoin, or other cryptos to their portfolio.