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Table of Contents
Crypto Price Update
Market News
Bitcoin and Ethereum See Price Rebound
After a week of decline, both Bitcoin and Ethereum experienced a surge in the past 24 hours. Bitcoin rose above $65,000, reflecting a 3.11% increase, while Ethereum surpassed the $3,400 mark with a 2.80% gain, that’s before they settled with the prices reflected above.
Feature News: $1.5 Million Price Target for Bitcoin?
- Cathie Wood, CEO of Ark Invest, has reiterated her bullish outlook on bitcoin, labeling it a “financial super highway” and underscoring its pivotal role in emerging markets. Her target price for Bitcoin is $1.5 million.
- She highlighted bitcoin’s applications in these regions as reasons for considering it partially a risk-off asset.
- Following Ark Invest’s launch of the ARKB spot bitcoin ETF, Wood pointed out the firm’s keen focus on emerging markets, especially in the context of the global economic turbulence triggered by the U.S. Federal Reserve’s interest rate hikes.
- Her comments came during a conversation at the Bitcoin Investor Day conference in New York, as reported by Helene Braun on March 23, 2024.
Regulation
U.S. SEC Chair Calls for Increased Scrutiny
During a law conference speech, SEC Chair Gary Gensler emphasized his worries over the unregulated nature of the cryptocurrency industry. He advocated for enhanced regulatory oversight to safeguard investors and promote fair competition, amid a global uptick in regulatory examination by government agencies.
DeFi
Avalanche Announces Support for Meme Coins
The Avalanche blockchain platform announced a $1 million liquidity mining incentive program to attract meme coins. This move could further drive adoption of the Avalanche network and potentially lead to a resurgence of meme coin popularity.
Web3 Gaming
OKX and Immutable Unveil Gaming Launchpad
This collaboration introduces a GameFi NFT launchpad and incorporates Immutable’s gaming-oriented zkEVM chain into OKX Marketplace and OKX Wallet, aiming to revolutionize the way over 50 million users interact with and access NFTs and digital assets in gaming.
Upcoming Event (Update)
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We would like to thank everyone for showing support for our forthcoming event: #CryptoPH Conversations with Luis Buenaventura Bitcoin Halving Edition! We have an exciting special guest announcement this Monday, so stay tuned!
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Event Format:
#CryptoPH Conversations format: Q and A with the speaker. The question asker will choose the next person who will ask the question.
#CryptoPH Conversations is the no-filter IRL event that fosters community dialogue and communication with the people who move the cryptocurrency industry forward, where decision makers and the grassroots movement meet.
The speakers will answer questions related to Bitcoin. Bitcoin Halving, ETF, and whether or not the country should adopt Bitcoin as a reserve currency.
#CryptoPH Conversations is brought to you by Luis Buenaventura, the leading voice of crypto in the country, and BitPinas, your trusted source of crypto news in the Philippines.
This article is published on BitPinas: Key Points | March 24, 2024 | $1.5M Bitcoin Price Target
Disclaimer:
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