After much anticipation, Bitcoin (BTC) has finally reached its all-time high on March 5, surpassing $69,000. This marks the official beginning of a bull market.
During the previous bull market, there was a lot of talk about how cryptocurrency and blockchain would revolutionize the world. While some progress was made, many goals were left unrealized. Now, with improved market conditions, there is a renewed opportunity to fulfill those promises.
Jonathan DeYoung and Ray Salmond, co-hosts of The Agenda, believe that with better market conditions and profitable balance sheets, blockchain projects have the runway to develop products and services that can solve global issues.
In episode 31 of The Agenda, Salmond and DeYoung discuss the significance of Bitcoin’s price reaching a new all-time high and what it means for the crypto industry in 2024.
They view Bitcoin’s achievement as a sign of maturity for the asset and the market. While the excitement around the price surge is understandable, they believe it is important to consider the larger implications of this milestone.
Salmond suggests that reaching new price highs is a sign of maturity for Bitcoin. DeYoung points out that unlike previous bull markets, there is less social chatter from non-crypto enthusiasts, and he finds himself less obsessed with constantly checking his portfolio value.
Looking ahead to 2024, Salmond and DeYoung agree that the success of blockchain and crypto will be defined by the ability of builders to deliver practical products and services, rather than just the value of their tokens.
DeYoung predicts that the synergy between crypto and artificial intelligence will continue to strengthen as the need for data verification and authentication grows. He believes that blockchains are well-suited for cataloging and authenticating data, and expects them to play a crucial role in media and potentially even government in the coming years.
Salmond, on the other hand, is hopeful that the music nonfungible token (NFT) industry will regain popularity in 2024. He acknowledges that his high expectations may require patience, which is a valuable virtue in the fintech space.
To hear more about Jonathan and Ray’s conversation on The Agenda, including details about upcoming guests, listen to the full episode on Cointelegraph’s Podcasts page, Apple Podcasts, or Spotify. And be sure to explore Cointelegraph’s full lineup of other shows.
Please note that this article is for informational purposes only and should not be considered legal or investment advice. The views expressed are solely those of the author and do not necessarily reflect the views of Cointelegraph.