Daily CRYPTO NEWS recap📈🔥- 01.07.2024
•Bitcoin's historical data suggest rebound in July
Bitcoin may experience a strong rebound in July following a lackluster performance in June, during which it fell nearly 7%. Historical data indicates that whenever June ends on a downtrend, the following month tends to see a significant recovery, with $BTC historically gaining an average of 7.42%. Memecoin analyst Murad highlighted that Bitcoin has posted minimum gains of 28% in the first few weeks of every July for the past six consecutive years.
•Vitalik Buterin compared crypto regulations to ‘anarcho-tyranny’
Ethereum’s outspoken co-founder and one of the biggest $ETH holders, Vitalik Buterin, recently expressed his frustration with the current state of cryptocurrency regulation and proposed a surefire solution to the problem. Responding to a user on Warpcast, a social media platform built on the Farcaster protocol, Buterin described how current regulatory efforts have essentially trapped well-intentioned cryptocurrency developers in a difficult position. He stated that cryptocurrency projects that merely demand money from users are allowed to operate freely, while projects that transparently explain how their yields are generated are classified as securities.
•AI needs a killer app to prove it’s not a bubble — Goldman Sachs, MIT
Analysts from Goldman Sachs and MIT recently conducted an in-depth analysis of the generative artificial intelligence (AI) market to assess its short- and long-term viability for investors. They explored whether the current AI market is an expanding bubble poised to burst or the foundational "pickaxes and shovels" phase of the next technological and industrial frontier. While the answer is complex, their research suggests that AI requires another breakthrough innovation or a game-changing killer app to reach its full potential.
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