Bitcoin is not illegal but operating bitcoin exchange in illegal in Pakistan. Price of bitcoin is still expected to go beyond $10,000 . But its a long term investment and its not for the weak hearted. Bit coin prices will crash in short term but definitely rise in the longer term.
Yes there is no real asset backing bitcoin. The prices are purely based on demand and supply. There are limited number of bitcoins that can exist.
I live in netherlands So here we have legal exchanges and bitcoin ATM where you can go buy and sell bitcoins . But Again its a long term investment and not like traditional trading.
BEst authentic information on how to start on bitcoin is on bitcoin.org . Do lots of reading before you invest. Invest only once you understand the technology .
And if you know what you are doing then bitcoin is probably the most safest way to store money , Even large bank are thinking about using the block chain technology .