CoinResearch Market Pulse – July 9th, 2024
Why is the market acting strange this week?
Germany’s Bitcoin Strategy Criticized: The German government still holds over $2 billion in Bitcoin, despite recent sell-offs that have contributed to market downturns, drawing sharp criticism from experts for potentially destabilizing the market further. [ link ]
Bitcoin Mining Profitability Rebounds: Bitcoin mining profitability saw a resurgence in June after a difficult May, as the network hashrate dropped and Bitcoin prices slightly increased, showing the market’s adaptation to the recent halving event. [ link ]
Tether’s AI Security Solution: Tether CEO Paolo Ardoino revealed the development of decentralized AI models to enhance security and privacy, claiming these models could have prevented the OpenAI hack and emphasizing the importance of locally executable AI for system resilience. [ link ]
Peter Schiff’s Bitcoin ETF Warning: Economist Peter Schiff warns that “smart money” is selling Bitcoin while “dumb money” is buying through ETFs, predicting severe losses for ETF investors if Bitcoin’s price continues to decline. [ link ]
China’s Ambitious BCI Program: China is accelerating its brain-computer interface (BCI) program, aiming to lead globally in brain chip technology, as demonstrated by a monkey controlling a robotic arm via thought, positioning itself competitively with Western tech like Neuralink. [ link ]
To do a deeper dive, listen to our CEO on his podcast of 7+ years, Bad Crypto, on episode 234.
