There is a genuine need for TrueCrypt to be further developed, if only to support newer operating systems and to remove or mitigate the weaknesses identified by the TrueCrypt Audit. Thus, it was no big surprise when everyone started to call for a new team to develop TrueCrypt, or a fork of it. In stepped TrueCryptNext (TCNext) - an attempt to kickstart a replacement for TrueCrypt. Despite considerable skepticism, they announced in September that their fledging effort, CipherShed, is now closer to alpha release, pending a security review. This is remarkable progress though, since they only started coding work mid-June. In the meantime, a French cryptography and IT security company called IDRIX announced the release of VeraCrypt 1.0e. VeraCrypt is based on TrueCrypt's source code and looks very similar to TrueCrypt. Take a look... Link : ED#185 : The New TrueCrypt - VeraCrypt Or CipherShed?
Well, the concern with Bitlocker is that Microsoft may have a backdoor, although they have strenuously asserted otherwise. So those who are really paranoid about security will insist on an open-source solution. That said, TrueCrypt's source code wasn't really audited until recently. It passed the first phase though. The other thing is TrueCrypt is supported across multiple platforms. So if you want to share encrypted containers or drives across multiple platforms, you need something like TrueCrypt.
