Bitcoin Report: Challenges and Opportunities

The report contains important information and events impacting Bitcoin in 2023 & 2024. The Coin98 Insights team was responsible for conducting the report.

Published Feb 07 2024

Updated Apr 11 2024

1 min read

Coin98 Insights Report (Nam Le, Yang)

January 7th, 2024

Strong growth was observed in Bitcoin network, miner, and derivatives metrics in 2023, primarily due to spot Bitcoin ETF expectations and the Inscriptions trend.
The spot Bitcoin ETF could be a "sell-the-news" event in the short term, but BlackRock and Fidelity cash flows are optimistic for the medium to long term. Over the next few years, Bitcoin will be significantly influenced by major financial institutions.
The 4th Halving gives Bitcoin a chance to distinguish itself from established financial markets. Miners must prioritize revenue sustainability as block rewards decrease after the Halving.
The Bitcoin ecosystem is predicted to explode in the coming years with NFT, DeFi and Layer 2 sectors.
As legal concerns become more transparent in 2024, the struggle for Bitcoin's "true nature" will reach a turning point.