The Article "Bitcoin Price Soars: Will the Bubble Burst?" mainly desribes the rise of Bitcoin and how big it has become in the last month and the possibility of the price plummeting. This article was created during a time in which Bitcoin has been surging recently. The Author notes that within one hour on December 7th, Bitcoin's value increased by over $3,000. Although the Author seems to very happy and positive about the sudden rise of Bitcoin he is also shown to be wary and cautious as he details several concerns about Bitcoin that could affect his future.
The Author structures his article into five different parts: An Introduction, Sponsors of Bitcoin, 24/7 Marketability, The Future of Bitcoin, and Volitaile Trading. His argument that is readily present throughout his last four sections is that while Bitcoin is profitable and it surging, there still is a lot of unknown to it and eventually could come crashing down. Many appeals to Ethos and Logos throughout. For example the author uses the Chicago Stock Exchange as an example of places where Public Trading has begun on Bitcoin. The author also interviews experts on Bitcoin such as Daniel Masters who is the founder of the "Global Advisors Bitcoin Investment Fund" to help support his argument. On top of Ethos the author appeals to logos a lot as well. He cites different instances of hacking that have caused Bitcoin to crumble. One such instance happened in 2014 when the Largest Bitcoin Trader at that time "Mt. Gox" collapsed after hackers stole 650,000 Bitcoins from the website, causing it to collpase, and the Bitcoin price to dramatically fall. A newer instance of this the author cites is when Solevenian crytocurrency mining marketplace also known as "NiceHash", said it lost $64,000,000 worth of Bitcoin after an attack on its servers exposed its payment system. Through reading this article its clear that the author has researched this topic thoroughly and feels a very certain way when discussing Bitcoin. As discussed earlier the author remains optimisitc about the rise of Bitcoin and the potential great future it has in front of it, but continues to stay realistic noting through a video, that "All currencies that experience a surge eventually experience a plummet, thats just how our market works." The main purpose of this article from a readers perspective it to caution those who are thinking about investing into Bitcoin and the uncertainty it presents in the future. The main audience is mostly investors, experts on Bitcoin, and more specifically investors who are thinking about investing their money into Bitcoin. While Bitcoin is surging and prices are reaching an all-time high, remember to invest responsibly, and invest the amount one is willing to lose. After all the market is mostly unpredictable and no one knows if the Bitcoin will continue to surge, or in a darker tone come crashing down...
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AuthorIlias Clark B. 10-27-2001 in Atlanta, Georgia is a 15 year old student currently enrolled in North Cobb High School's Magnet Program. His hobbies include playing video games, swimming, and learning History. Archives
February 2018
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