After more than 10 years in existence, we can still consider Bitcoin to be a newbie though considering that we are now in the fast=paced technology kind of society this should have been not the case. Bitcoin is attracting many solid players and I think it is here to stay and will not be succumbing to competitors in the near future but it has to be adopting to many challenges ahead.
So what are the things that hindered BTC to be adopted by as many people as possible. This is just my opinion, please be warned. One factor is that many people are turned off by the complexity of using cryptocurrency. This must be looked on fair and square. People should be using cryptocurrency as easy as using PayPal, though how this is going to be accomplished can be debatable. There are now a good deal of progress on this regard, but they are mostly niche-based and not yet generally accepted.
Another factor that turned off many is the existence of scams, hacks and frauds all over the industry. Sadly, there is nothing concrete we can do on this except to educate as many people as people, sadly though that even the most educated in crypto can still be victimized.
Of course, the role of the government should not be overlooked. Bitcoin is not officially recognized in China, India and Russia where a huge number of people are located, though we know that many residents of these countries are secretly holding Bitcoin.