Research has consistently shown that cryptocurrencies are difficult for consumers to understand, and we are determined to change that. Here’s what happened at this week’s show:
Crypto Struggles
Bitcoin is now trying to regain bullish momentum during its second week. The world’s largest cryptocurrency attempted to hack $60,000 this week and failed.
This is because the US dollar index continued to strengthen after peaking in 2021. And in other news, the Fed has hinted that it could cut its money-issuing program and raise interest rates faster than before. Some analysts worry that these developments will make BTC less attractive.
PlanB’s leak model was also challenged. The analyst has finally admitted what most of us already know. BTC will probably never hit $98,000 in November. Instead, what all bulls can expect would be more than $61,000 by the end of October.
CoinMarketCap’s Molly Jane Zuckerman is also here to take a look at the crypto news headlines this week. El Salvador’s President Nayb Bukele has announced a bold plan to build a Bitcoin-only city. Meanwhile, the aftermath of the DAO Constitution continues. High gas rates undermine refund costs and organizations announce plans for permanent closures. Lastly, Mr. Hamster is famous for cryptocurrency trading. We bring you the sad news of the death of Goxx.
Bitcoin and Black America
This week’s guest is Isaiah Jackson, author of Bitcoin and Black America. He explains how cryptocurrencies offer a strong alternative after decades of racial bias in the banking system.
Bitcoin allows you to hold your wealth without someone being able to take it away from you. I think Bitcoin shows promise that I haven’t seen in any other technology before.
Isaiah explains how the book explains his personal story and how he started Bitcoin in 2013.
There are a lot of things that the black community asks for, but we don’t really have the leverage to get it, which is why we’re overlooked a lot. You can say to yourself, hey, we’re using Bitcoin as a peaceful protest. We can actually transfer funds in Bitcoin on this system.
And that’s actually going to give us more influence when we talk about the politics of this country and how we can get results. So, I think this is all positive for the black community and there are no barriers to entry. We have equal opportunities.
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