Global Scans · Cryptocurrencies · Weekly Summary

• [New] Bitcoin and other cryptocurrencies have been supported by excitement around the US Securities and Exchange Commission's decision in January to approve spot bitcoin exchange-traded funds, as well as expectations that central banks will cut interest rates. ABC News
• [New] With only 2 million bitcoins left, if we assume a daily inflow of $500 million to Bitcoin Spot ETFs, the equivalent of around 7,142 bitcoins will leave exchange reserves daily, suggesting that it will only take nine months to consume all of the remaining reserves. FinanceFeeds
• [New] Inflation will stay around 3% for 2025, an expectation echoed in markets for assets viewed as protecting against inflation (such as gold and cryptocurrencies). The Conversation
• [New] Bitcoin has dropped 8% since Sunday night as demand for spot exchange-traded funds has cooled and hopes dwindle that the Federal Reserve will cut interest rates soon. Fortune Crypto
• [New] AI's energy demands are undeniably growing at an alarming rate, with the International Energy Agency estimating that electricity consumption from data centers, cryptocurrencies, and AI could double in the next two years. Trendy Digests
• With the potential for significant growth, the best new cryptocurrencies of 2024 hold the promise of reshaping industries, empowering users, and unlocking new possibilities in the digital asset space. Coinpedia Blockchain Fintech News
• Bitcoin ETFs might have attracted significant capital inflows into Bitcoin, but very few traditional banks and institutional investors have poured their money into them, with the retail sector being responsible for most inflows. Invezz
• Many experts predict a bullish surge in Bitcoin's price after the halving due to increased scarcity and institutional adoption, with some forecasting prices as high as $200,000 to $400,000. Beanstalk
• If approved, the Monochrome Bitcoin ETF could become the first spot Bitcoin ETF in Australia to allow direct holding of Bitcoin. Crypto Briefing
• Scorpion Casino, positioned within the gaming sector of cryptocurrencies, offers promising potential for investors seeking a 100 x return. InsideBitcoins
• The global insurance industry is turning its attention to the risks posed by cryptocurrencies and digital assets, judging by recent product announcements. FinExtra
• Closing the year, Bitcoin could embrace a festive spirit, and drive a rally to $9,738 high, while occasional pullback seek support at $7,785 low. Coingape
• Halvings are scheduled to occur roughly every four years, or every 210,000 blocks until the entire 21 million bitcoin supply is mined, approximately by 2140. Blockworks
• The world's oldest cryptocurrency will officially have its fourth - ever halving soon, when it will slash its number of Bitcoins issued to miners from 6.25 BTC to 3.125 BTC instead. TalkMarkets
• Macroeconomic Factors: Bank interest rates are expected to decline gradually in 2024, creating favorable conditions for risky assets like Bitcoin. Coinbold
• 2025 could see Bitcoin reach as high as $250,000, with expectations for the cryptocurrency to surpass the $200,000 threshold at various points throughout the year. CCN
• With 28 more halving events expected over the next 112 years, the future trajectory of bitcoin adoption and network growth warrants close monitoring - especially when broader access to bitcoin was only made possible in the US less than 90 days ago with the approval of spot bitcoin ETFs. Blockworks
• As Bitcoin halvings continue, the rate of new Bitcoin supply will gradually decrease until all 21 million BTC have been mined, with the final fraction of Bitcoin expected to be mined by the year 2140. CoinTelegraph
• If bitcoin follows a similar path to bitcoin cash, the bitcoin price could double to almost $150,000 per bitcoin by the time of its own halving, matching some recent bitcoin price predictions. Forbes
• Governments around the world could crack down on cryptocurrencies, imposing strict regulations that limit their use and adoption. US Newsper
• Price predictions for Bitcoin and Ethereum indicate bullish trends for the remainder of 2024 and 2025, with new all-time highs expected. CoinCodex

Last updated: 28 April 2024