The Bitcoin Bull Run, Explained
The Bitcoin bull run means the constant rise of the BTC price, and Bitcoin bulls are market optimists who believe this asset will rise for the long term.
Bitcoin bull run beginning
It seems like you can't go anywhere online without hearing how much Bitcoin has grown recently.
But how did the Bitcoin bull run start? With the first famous transaction known in the community as Pizza Day, programmer Laszlo Hanyecz could trade an enormous amount of Bitcoin - 10,000 BTC to be exact - for two pizzas. By today's pricing standards, those are some expensive pies - over $556 million! Before you start thinking he was crazy, consider that there hadn't been any financial transactions prior. Without this critical first step, cryptocurrency wouldn't be the financial exchange titan today, not to mention all of the alternative cryptocurrencies that continue to emerge. Even Dogecoin is getting in on the action lately - once thought to be just a meme, Dogecoin is up over 5000% for the year.
The reasons for Bitcoin bull run
Back to Bitcoin - some of the reasons that it has become so powerful are that many larger markets are taking an interest in making them a part of more traditional payment systems, and other companies such as Tesla (with a lot of help from Elon Musk's tweeting habits) now allow you to buy cars for crypto. As much as many people in the crypto space want to do away with standard companies and processes, it seems clear that we need enterprise adoption before a whole decentralized world.
Want to learn more about how Bitcoin has emerged to power? Take a look at the deep visual dive below for more.