Good morning, this is Philip from Blockchain Century on Monday the 25th of March 2024 with a quick Monday news roundup.
In my last post I mentioned a 17% Bitcoin drop from its all-time high of the previous week and pointed out that while one English newspaper asked the question, has the bubble burst, I pointed out that in every bull cycle we have 5 (or even 6) 20 plus percent drawdowns.
So nothing to be concerned about and sure enough today we have bounced back and hit $70,000 again.
Ethereum is back in the news with on one hand talk of a spot ETF and yet on the other a further SEC probe in progress. There's always those concerns over as to whether Ethereum is seen as a security or not. So we'll monitor that and see what happens.
More nasty noise from the EU while they're talking three years down the road. It's all about limiting and controlling fiat transactions and attacking Bitcoin privacy via wallets and self-custody. Personally, I'm not worried about this as they'll be having bigger fish to fry over the coming years, I suspect.
Unsurprisingly, Bitcoin demand from retail going through the roof in Argentina as it did in Lebanon and indeed any country experiencing hyperinflation. There was a huge AI conference in the States last week with knock-on implications for Blockchain AI projects. Talking of which AI and meme coins are very much a hot topic in this bull run with mad gains in both sectors.
More of that coming in one of my more in-depth chats about bull run market sectors.
Anyhow, have great days and thank you for listening here at Blockchain Century and please remember to subscribe at blockchaincentury.com
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