The Bitcoin Bull Run (INFOGRAPHIC)
Brian Wallace, Founder & President, NowSourcing
Our age of digital media has brought us many ups and downs. Between the glorification of communication that is social media and the nefarious downside that is personal security, the internet allows us to explore all facets of the emotional spectrum. However, whether it is joy or sadness there is one emotion that always prevails when talking about the internet: confusion.
One of the most confusing aspects of the digital world is the financial side. Within this realm you can have online stock trading, investment portfolios and most puzzling of all: cryptocurrency. When we think of cryptocurrency there is typically only one household name and that is Bitcoin. Born in 2009, Bitcoin was a revolutionary idea that had most savvy financiers completely at a loss for words.
At its core, Bitcoin is a financial entity that is entirely unattached to any governing body. This was unheard of at the time and it gave Bitcoin a mysterious allure that drew lucky and inexperienced investors to its virtual door. However, the lack of regulation also led to some puzzling perplexities that no one had thought of. Without a governing body, there was no one to derive the value of this daring dinero, therefore making it almost impossible to gauge the demand and supply of said currency.
This did not deter Bitcoin’s founders, and they chugged along forward to 2010 where they were successfully able to facilitate the first big purchase: pizza. This historic transaction made victory taste sweet, as it was the determining purchase in assigning a monetary value to the currency. Since 2010, Bitcoin has had a rocky path. Following several crashes that led investors to disassociate from the platform the future was not looking bright for Bitcoin.
This would all change in 2019 when the attraction of an unregulated source of profit was becoming increasingly vogue due to the speed of the economy. And since that speed was somewhere in between snail and turtle, investors were looking for a one in a million chance to get rich and they found that with the world of Bitcoin. Since then, Bitcoin has almost quadrupled in value and is steadily growing faster than some of the most popular stocks.
The allure of the unknown coupled with the continuous profit margins make bitcoin a very attractive buy. Only time will tell but if the current price of Bitcoin is any indicator, there is a very lucrative future for crypto. Learn more about the Bitcoin bull run in the infographic below:
About the Author: Brian Wallace is the Founder and President of NowSourcing, an industry leading infographic design agency in Louisville, KY and Cincinnati, OH which works with companies ranging from startups to Fortune 500s. Brian runs #LinkedInLocal events, hosts the Next Action Podcast, and has been named a Google Small Business Adviser for 2016-present. Follow Brian Wallace on Linked
