Hyland reiterated that since the beginning of August, Bitcoin has “seen higher lows and higher highs, higher lows, higher highs, noting that the beginning of both July and August saw “major pullbacks.” Overall, Hyland believes that Bitcoin will continue to “see some chop” ahead of the United States presidential election on November 4. He also sees September having “mostly sideways action, which is historically the worst performing month for Bitcoin.” However, Cointelegraph recently noted that Bitcoin's price action in September might not mirror the "boring" trends of previous years, as Bitcoin miner selling pressure has stabilized and the stablecoin supply ratio is showing bullish signs.
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The wheels of Air Force Two touched down in Georgia, and the latest Kamala Harris era began. The vice president drew a bigger crowd than President Joe Biden had gotten all year—a show of strength in the South, in a state Harris thrust back into play. This was her moment. Harris, wearing a baby blue suit and her customary American flag pin, took the stage in Atlanta, with Megan Thee Stallion on hand. Fresh off a record, jaw-dropping fundraising week, she taunted former President Donald Trump to electric cheers, before pausing for a warning. “Let’s level-set, friends,” she said. “We are the underdogs in this race. We are.”
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AI, with its generative capabilities, promises to automate tasks, enhance productivity, and spur economic growth. However, the road to achieving these lofty goals is fraught with obstacles. According to Goldman Sachs, the tech industry’s projected $1 trillion investment in AI over the next few years has yet to yield large returns beyond modest efficiency gains. Even NVIDIA, a major player in the AI hardware sector, has seen its stock price corrected sharply. The skepticism surrounding AI’s potential is echoed by experts. Take Daron Acemoglu from MIT, for instance. He’s quite skeptical about AI’s grand promises. According to him, only a small fraction of work tasks will be automated by AI in the next decade, impacting less than 5% of all tasks. He argues that AI won’t advance fast enough to make a large economic impact, predicting only a slight bump in productivity and GDP growth. It’s a far cry from the revolution many envision.
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