Podcast: Bitcoin's Correction is Far from Over
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Podcast: Bitcoin's Correction is Far from Over

8 months ago

We've got all of this week's crypto headlines — and our guest this week is Isaiah Jackson, the author of Bitcoin And Black America.

Podcast: Bitcoin's Correction is Far from Over

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Listen to the CoinMarketRecap podcast on Apple Podcasts, Spotify and Google Podcasts

CoinMarketRecap, hosted by Connor Sephton, aims to break down the week's crypto news in a fun and accessible way.

Research continually shows that consumers find cryptocurrencies difficult to understand — and we're determined to change that.

Here's what happened on this week's show:

News Roundup: Crypto Struggles, Bitcoin City, ConstitutionDAO, Mr Goxx Dies

Bitcoin has now been struggling to regain bullish momentum for a second week.

The world's biggest cryptocurrency tried — and failed — to crack $60,000 this week.

This has been linked to the continued strength of the U.S. Dollar Index, which has hit its highest level in 2021. And in other news, the Federal Reserve has hinted that it may taper its money printing program — and increase interest rates — earlier than previously planned. Some analysts fear these developments make BTC less attractive.

PlanB's stock-to-flow model has also been plunged into doubt. The analyst has finally admitted what most of us already knew: BTC "probably" won't hit $98,000 in November. Instead, all bulls can hope for is that the monthly close is higher than the $61,000 seen at the end of October.

CoinMarketCap's Molly Jane Zuckerman is also here with a look at this week's crypto headlines. El Salvador's president, Nayib Bukele, has announced bold plans to build an entire city devoted to Bitcoin. Meanwhile, the fallout from ConstitutionDAO continues — with high gas fees eroding the value of refunds, and the organization announcing plans to shut down for good. Last but by no means least, we discuss the sad news that Mr Goxx, the hamster that achieved fame by trading cryptocurrencies, has died.

Bitcoin and Black America

Our guest this week is Isaiah Jackson, the author of Bitcoin And Black America. He explains how cryptocurrencies are offering a powerful 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 discusses his personal story, and how he got started in Bitcoin back in 2013.

"There's 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 use Bitcoin as a peaceful protest.' We can actually move our funds out of this system into Bitcoin. And that would actually give us more leverage when we discuss politics in this country and how we can get things done. So I think all of that is positive for the black community, and there's no barrier to entry. We have equal opportunity."

New episodes of CoinMarketRecap are released every Friday — subscribe to us on Apple Podcasts and Spotify!

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