比特幣減半引發前所未有的稀缺，助長價格飆升

Bybit 的報告研究了即將到來的比特幣減半對加密貨幣交易所內供應動態的影響。由於減半導致BTC供應量減少50%，交易所將面臨大幅供應緊張，BTC供應量僅剩9個月。這種稀缺性加上賣方供應量的減少，將提高比特幣的稀有性，使其變得比黃金更稀缺。該報告預測，這種供應緊張可能會導致比特幣價格大幅上漲，儘管它可能無法與減半前的漲幅相符。

Bitcoin Halving Event to Create Unprecedented Scarcity, Driving Price Surge

比特幣減半造成前所未有的稀缺，推動價格飆升

April 18, 2024

2024 年 4 月 18 日

Bybit Report Illuminates Impact of Bitcoin Halving on Supply Dynamics

Bybit 報告闡明了比特幣減半對供應動態的影響

Bybit, a prominent cryptocurrency exchange and trading platform, has released a comprehensive report analyzing the impending Bitcoin halving event and its profound implications for the cryptocurrency's supply and price dynamics.

著名的加密貨幣交易和交易平台Bybit發布了一份綜合報告，分析了即將到來的比特幣減半事件及其對加密貨幣供應和價格動態的深遠影響。

Bitcoin Supply Crunch on the Horizon

比特幣供應緊縮即將到來

As the halving event draws near, the supply of Bitcoin held on global cryptocurrency exchanges has been dwindling rapidly. Bybit estimates that approximately nine months' worth of BTC remains on exchanges, highlighting a potential supply crunch.

隨著減半事件的臨近，全球加密貨幣交易所持有的比特幣供應量迅速減少。 Bybit 估計，交易所中仍有大約 9 個月的 BTC，凸顯了潛在的供應緊縮。

This scarcity is further exacerbated by the constant influx of funds into Spot Bitcoin ETFs, which is currently estimated at $500 million daily. This translates to an outflow of approximately 7,142 BTC per day from exchanges, suggesting that all remaining BTC reserves on exchanges could be depleted within nine months.

資金不斷湧入現貨比特幣 ETF，進一步加劇了這種稀缺性，目前估計每天有 5 億美元。這意味著每天大約有 7,142 BTC 從交易所流出，這表明交易所上所有剩餘的 BTC 儲備可能會在 9 個月內耗盡。

Halving Event to Intensify Supply Squeeze

減半事件加劇供應緊張

The upcoming halving event is a significant factor contributing to this supply crunch. This event, scheduled for late April, will reduce the issuance rate of new Bitcoin by 50%, effectively cutting miner rewards in half.

即將到來的減半事件是造成供應緊張的重要因素。該活動定於 4 月底舉行，將使新比特幣的發行率降低 50%，從而有效地將礦工獎勵減少一半。

Bybit predicts a significant reduction in the sell-side supply of BTC flowing into Centralized Exchanges (CEXs) following the halving event. This will further amplify the supply squeeze and potentially drive Bitcoin prices upward.

Bybit 預測，減半事件後，流入中心化交易所（CEX）的 BTC 賣方供應量將大幅減少。這將進一步加劇供應緊張，並可能推動比特幣價格上漲。

Bitcoin: Twice as Rare as Gold

比特幣：比黃金稀有兩倍

Bybit's report draws comparisons between Bitcoin's supply post-halving and that of gold. The exchange emphasizes Bitcoin's growing stature as a safe haven asset, particularly among seasoned investors.

Bybit 的報告將比特幣減半後的供應量與黃金的供應量進行了比較。該交易所強調比特幣作為避險資產的地位日益增強，尤其是在經驗豐富的投資者中。

The halving event is expected to enhance Bitcoin's scarcity significantly, making it an even rarer asset than gold. Bybit's analysis, based on the Stock-to-Flow (S2F) ratio, indicates that Bitcoin's S2F ratio will surge to 112 post-halving, surpassing gold's current ratio of 60.

減半事件預計將顯著提高比特幣的稀缺性，使其成為比黃金更稀有的資產。 Bybit基於Stock-to-Flow（S2F）比率的分析表明，減半後比特幣的S2F比率將飆升至112，超過黃金目前的60比率。

"Each Bitcoin halving strengthens the narrative of Bitcoin as not just a currency but a scarce digital asset, akin to digital gold," stated Ben Zhou, Co-founder and CEO of Bybit. "This upcoming halving will propel BTC into an era of unprecedented scarcity, making it twice as rare as gold."

Bybit 聯合創始人兼首席執行官周本表示：“比特幣每次減半都強化了比特幣不僅是一種貨幣，而且是一種稀缺數字資產，類似於數字黃金的形象。” “即將到來的減半將推動比特幣進入一個前所未有的稀缺時代，使其稀有程度是黃金的兩倍。”

Post-Halving Price Surge Anticipated

預計減半後價格將飆升

The report highlights the strong correlation between Bitcoin's supply squeeze and its price movements. Analysts predict a notable upward price pressure on Bitcoin in the wake of the halving event.

該報告強調了比特幣供應緊張與其價格走勢之間的密切相關性。分析師預測，減半事件後比特幣價格將面臨顯著的上行壓力。

While the magnitude of the price surge is expected to be less pronounced than the pre-halving bull run, it is anticipated that BTC's price could reach new all-time highs.

雖然價格飆升的幅度預計不會像減半前的多頭市場那麼明顯，但預計 BTC 的價格可能會創下歷史新高。

Conclusion

結論

Bybit's report provides a comprehensive assessment of the upcoming Bitcoin halving event and its profound impact on the cryptocurrency's supply and price dynamics. The report concludes that the halving event will create an unprecedented level of scarcity, further enhancing Bitcoin's status as a safe haven asset and potentially driving its price to new heights.

Bybit的報告對即將到來的比特幣減半事件及其對加密貨幣供應和價格動態的深遠影響進行了全面評估。報告的結論是，減半事件將造成前所未有的稀缺程度，進一步增強比特幣作為避險資產的地位，並有可能將其價格推向新的高度。