比特幣減半：加密貨幣分水嶺時刻推動價格飆升

週五發生了減半，即​​進入流通的比特幣數量自動減少 50%。這種機械操作，硬編碼在比特幣的設計中，是加密貨幣世界的世界杯，每四年舉行一次，並引發高度情緒。比特幣信徒預計，這次減半將推高其價值，就像過去一樣。儘管一些懷疑論者警告不要過度熱情，但加密貨幣忠實者的長期情緒仍然樂觀。

Bitcoin's Halving: A Cryptocurrency Watershed Moment

比特幣減半：加密貨幣的分水嶺時刻

In a highly anticipated event that sent ripples through the cryptocurrency realm, Bitcoin's quadrennial "halving" occurred on Friday. This meticulously orchestrated operation, embedded within Bitcoin's intricate design, automatically slashed the number of new bitcoins entering circulation by an unwavering 50%.

在一場備受期待的事件中，比特幣四年一次的「減半」發生在加密貨幣領域。這種精心策劃的操作嵌入了比特幣的複雜設計中，自動將進入流通的新比特幣數量大幅削減了 50%。

The halving, akin to the World Cup for crypto enthusiasts, evokes unbridled emotions every four years. Antoni Trenchev, co-founder of crypto lender Nexo, succinctly described the anticipation: "Guessing the endgame for Bitcoin after each halving is the ultimate sport." Bolstered by the belief that history repeats itself, many ardent Bitcoin proponents predict a doubling of its value within eight months.

減半就像加密貨幣愛好者的世界盃一樣，每四年都會激起肆無忌憚的情緒。加密貨幣借貸機構 Nexo 的聯合創始人 Antoni Trenchev 簡潔地描述了這一預期：“猜測比特幣每次減半後的結局是終極遊戲。”在歷史重演的信念的支持下，許多比特幣的熱情支持者預測其價值將在八個月內翻倍。

Following the halving, Bitcoin's price surged to approximately $66,192 on Monday morning, albeit still trailing its all-time high. Earlier this year, fueled by a surge of investor interest and the regulatory approval of Bitcoin-based exchange-traded funds (ETFs), Bitcoin soared to a record $73,750 in March.

減半後，比特幣價格週一上午飆升至約 66,192 美元，但仍低於歷史高點。今年早些時候，在投資者興趣激增和基於比特幣的交易所交易基金 (ETF) 獲得監管機構批准的推動下，比特幣在 3 月飆升至創紀錄的 73,750 美元。

ETFs have served as an accessible gateway for mainstream investors to partake in Bitcoin's price movements without directly owning the cryptocurrency. This influx has channeled billions of dollars into Bitcoin, contributing to its impressive 40% growth this year.

ETF 已成為主流投資者在不直接擁有加密貨幣的情況下參與比特幣價格變動的門戶。大量資金湧入比特幣，導致比特幣今年實現 40% 的驚人成長。

"Historically, every halving has resulted in bullish price action," remarked Gareth Rhodes, managing director at research and advisory firm Pacific Street. "This makes sense, given that reduced supply typically leads to higher prices."

研究和諮詢公司 Pacific Street 的董事總經理 Gareth Rhodes 表示：“從歷史上看，每次減半都會導致看漲的價格走勢。” “這是有道理的，因為供應減少通常會導致價格上漲。”

Bitcoin miners, the custodians of the Bitcoin blockchain, are compensated for their computational efforts in verifying transactions with Bitcoin. The halving reduces this reward from 6.25 Bitcoin to 3.125 Bitcoin.

比特幣礦工是比特幣區塊鏈的保管人，他們在驗證比特幣交易時所付出的計算努力得到了補償。減半將獎勵從 6.25 比特幣減少到 3.125 比特幣。

Amidst the optimism, crypto skeptics remain unconvinced, cautioning that digital assets have yet to demonstrate tangible real-world utility and pose significant investment risks. Molly White, a software engineer and prominent crypto critic, questioned the causal relationship between previous price increases and halvings. She noted the coincidence of the 2020 halving with the macroeconomic upheaval caused by the COVID-19 pandemic, which fueled a broader investment rush into risky assets.

在樂觀情緒中，加密貨幣懷疑論者仍然不相信，他們警告說，數位資產尚未展現出切實的現實實用性，並構成重大投資風險。軟體工程師、著名加密貨幣評論家莫莉懷特 (Molly White) 對先前的價格上漲和減半之間的因果關係提出了質疑。她指出，2020 年減半恰逢 COVID-19 大流行引發的宏觀經濟動盪，這推動了對風險資產的更廣泛的投資熱潮。

Echoing this note of caution, Villanova University finance professor John Sedunov warned that Bitcoin's past performance is not a reliable predictor of its future, particularly given the current economic climate and potential increases in mining costs.

維拉諾瓦大學金融學教授約翰·塞杜諾夫（John Sedunov）回應了這一警告，警告比特幣過去的表現並不能可靠地預測其未來，特別是考慮到當前的經濟環境和採礦成本的潛在成長。

By design, the total supply of Bitcoin is capped at 21 million. This artificial scarcity, according to proponents, imparts value to the cryptocurrency. Skeptics, on the other hand, contend that such manufactured scarcity lacks inherent value. Jamie Dimon, the CEO of JPMorgan Chase, is a vocal critic of Bitcoin, dismissing it as a worthless investment.

根據設計，比特幣的總供應量上限為 2,100 萬個。支持者認為，這種人為的稀缺性賦予了加密貨幣價值。另一方面，懷疑論者則認為，這種人造的稀缺性缺乏內在價值。摩根大通執行長傑米戴蒙 (Jamie Dimon) 直言不諱地批評比特幣，認為比特幣是一種毫無價值的投資。

While long-term optimism prevails among Bitcoin believers, the psychological impact surrounding an event like the halving is notoriously difficult to predict and can trigger extreme volatility, even by the erratic standards of the cryptocurrency market.

儘管長期樂觀情緒在比特幣信徒中盛行，但圍繞減半等事件的心理影響是眾所周知的難以預測，並且可能引發極端波動，即使按照加密貨幣市場不穩定的標準也是如此。

Greg Beard, CEO of Stronghold Digital Mining, acknowledged the hype surrounding the halving but dismissed it as exaggerated. He emphasized the growing institutional adoption of Bitcoin, predicting a significant price increase over the next two years.

Stronghold Digital Mining 執行長 Greg Beard 承認圍繞減半的炒作，但認為其言過其實。他強調了比特幣越來越多的機構採用，並預測未來兩年價格將大幅上漲。

Bitcoin's halving is a pivotal event that has historically influenced its price trajectory. As the dust settles, it remains to be seen whether this halving will follow the path of its predecessors and propel Bitcoin to new heights. However, one thing is certain: the halving has once again ignited the passionate debate surrounding Bitcoin's true value and role in the global financial landscape.

比特幣減半是歷史上影響其價格軌跡的關鍵事件。隨著塵埃落定，這次減半是否會重蹈先前的覆轍，將比特幣推向新的高度，還有待觀察。然而，有一點是肯定的：減半再次引發了圍繞比特幣真正價值和在全球金融格局中的作用的激烈爭論。