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Too much Bitcoin? 🤔
Even as BTC wavers, Bitcoin builders keep building. And then there's the Church of the Smoking Chicken Fish.
Ryan Ozawa
August 31, 2024
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September 16-17, 2024 | Singapore
📝 What you need to know
As the price of Bitcoin simmers Saturday at $59,110, down nearly 8% for the week, the beleaguered crypto community is looking for any sign of an uplift. But several experts told Decrypt that BTC will likely remain weighed down by a “supply overhang.” Altcoins also had a rough week.
Undeterred, Bitcoin developers are still building away, with Stacks pushing forward with its vision to bring native BTC staking to the top blockchain. And the meme coin community remains relentless in its mirth, with fans of the Smoking Chicken Fish setting their sights on building a church in Texas.
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💬 Quote of the Day
“If this trend continues, It would make sense for Bitcoin to struggle to maintain support at or above $60,000 in the near-to-medium-term future.”
Looking for a little Gangnam glamor during Korea Blockchain Week? Stop by Rug Radio and Decrypt’s Vibes in Seoul at People the Terrace on September 4. Expect the usual suspects: great cocktails, bites, and candid conversations with some of crypto’s leading minds. We’ll be there from 6pm to midnight.
