After a long wait, the price of Bitcoin (BTC) reached an all-time high on March 5, surging past $69,000. This milestone marks the official arrival of a bull market.
During the previous bull market, developers, projects, and artists expressed their ambitious goals and ideas about how crypto and blockchain technology would revolutionize the world. While some progress was made, many of these aspirations were left unfulfilled.
Now, with improved market conditions, there is a renewed opportunity for everyone to deliver on their promises. Co-hosts Jonathan DeYoung and Ray Salmond of The Agenda believe that blockchain projects, with better market conditions and profitable balance sheets, have the necessary resources to develop products and services that can solve some of the world’s problems.
In episode 31 of The Agenda, Salmond and DeYoung discuss the significance of Bitcoin’s price reaching a new all-time high and its potential implications for the crypto industry in 2024.
Looking beyond the excitement of Bitcoin’s soaring price, Salmond suggests that this milestone signifies the maturity of the asset and market. It is a positive development that highlights the progress made in the crypto space.
DeYoung notes that unlike previous bull markets, there is less social chatter from non-crypto enthusiasts compared to what was observed in 2017 and 2020. He admits to being surprised at not constantly checking his portfolio value every few minutes.
Salmond and DeYoung agree that by 2024, the success of blockchain and crypto will be determined more by the ability of builders to deliver practical products and services rather than the value of their tokens. DeYoung emphasizes the growing synergy between crypto and artificial intelligence, particularly in verifying data and media. He believes that blockchains are well-suited for cataloging and authenticating data, and expects them to play a significant role in media and potentially in government in the coming years.
Salmond expresses hope that the music non-fungible tokens (NFTs) industry will regain popularity in 2024. However, he acknowledges that his high expectations may require patience, which is crucial 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. Don’t forget to explore Cointelegraph’s full lineup of other shows as well.
Disclaimer: This article is for general information purposes only and should not be considered legal or investment advice. The views expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.