While Bitcoin may not have ended 2015 on a strong note, things could be turning around for the cryptocurrency.

For example, Q4 was "surprisingly anemic," but the first quarter has seen $160 million in investments, according to Mattermark, citing CoinDesk figures.

"Bitcoin had its best fundraising quarter in a year," Mattermark's Alex Wilhelm said.

"I'm not sure that the industry will ever beat the first quarter of 2015, when more than $200 million went into bitcoin firms, including huge sums into Coinbase and 21. Still, closing well north of the $100 million mark is a big step up from every other quarter recorded last year," Wilhelm commented.

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"In fact, it appears that the first quarter of 2016 was the second most active period in terms of total dollars raised for bitcoin firms in at least the last two years."

Looking Ahead

Based upon the transaction volume over the last year and the improvement over last quarter, it's probable that bitcoin may be making its way back into investors' favor. "In the last year, transaction volume across bitcoin – to pick a single metric – has roughly doubled. That's not the same pace of growth that the cryptocurrency saw in its infancy, but it is material," Wilhelm explained.

"Combine that statistic with an increasingly stable price and continued investment and bitcoin look just fine."