比特幣不能替代黃金

黃金的市值約為1900000000000美元，即使在最樂觀的情況下，比特幣（$ btc）也差不多。

Author: AlΞx Wacy

作者：AlξxWacy

Compiled by: TechFlow

編譯者：TechFlow

Bitcoin cannot replace gold.

比特幣不能替代黃金。

Gold has a market cap of about $19 trillion, and even in the most optimistic scenarios, Bitcoin is nowhere near touching. Digital gold? Yes. Real gold? Forget it.

黃金的市值約為19萬億美元，即使在最樂觀的情況下，比特幣也差不多。數字黃金？是的。真正的黃金？忘了它。

Market liquidity is decreasing.

市場流動性正在下降。

Spot ETFs have attracted institutional money, but retail liquidity is drying up. Market enthusiasm alone is not enough to support the next stage of development.

現場ETF吸引了機構資金，但零售流動性正在枯竭。僅市場熱情不足以支持下一階段的發展。

Popularization has not yet begun.

普遍尚未開始。

While cryptocurrency is frequently in the news, actual real-world applications remain limited. It remains primarily a playground for speculators rather than an everyday financial tool.

儘管新聞中經常是加密貨幣，但實際的現實應用程序仍然有限。它主要是投機者而不是日常財務工具的操場。

The dream of decentralization is shattered.

權力下放的夢想破滅了。

The dream of a fully decentralized cryptocurrency is fading. Today, centralized exchanges, regulators, and big money players are in control.

完全分散的加密貨幣的夢想正在消失。如今，集中的交流，監管機構和大筆資金參與者正在控制。

Funds are moving away from crypto investments.

資金正在擺脫加密投資。

Despite unprecedented government support and growing legitimacy for the industry, venture capital investment in crypto projects is below levels seen during the 2017-2018 boom.

儘管政府的前所未有的支持和對該行業的合法性日益增長，但對加密項目的風險投資投資仍低於2017-2018繁榮時期的水平。

Solana will surpass Ethereum.

Solana將超越以太坊。

Solana is faster, cheaper, and growing rapidly in NFT, DeFi, and meme coins. Ethereum struggles with high fees and internal chaos. It's a matter of when, not if.

Solana在NFT，Defi和Meme Coins中更快，便宜，並且迅速生長。以太坊以高費用和內部混亂而掙扎。這是何時的問題，而不是。

NFTs Are Dead.

NFT已死。

The craze of PFP (avatar NFT) has passed. Without practical application scenarios, NFT will not be able to recover unless new use cases emerge.

PFP（Avatar NFT）的熱潮已經過去。沒有實際的應用程序方案，除非出現新的用例，否則NFT將無法恢復。

Retail investors are the “takers”.

散戶投資者是“接受者”。

Smart money entered the market early and sold to retail investors at a high point, but most people ultimately failed to make a profit.

Smart Money儘早進入市場，並在高點出售給散戶投資者，但大多數人最終未能獲利。

If Solana doesn’t have a new “explosion point”, it will be difficult to hit a new high.

如果Solana沒有新的“爆炸點”，那麼很難達到新的高位。

Meme coins have been the biggest catalyst for $SOL. Without a new wave of enthusiasm, market attention will gradually fade.

模因硬幣一直是$ SOL的最大催化劑。沒有新的熱情，市場的關注將逐漸消失。

The next wave of AI agents is coming.

下一波AI代理人即將到來。

While the first wave of AI agents are just chatbots, more advanced technologies are coming that will change the way we interact with cryptocurrencies.

雖然第一波AI代理只是聊天機器人，但更高級的技術將會改變我們與加密貨幣互動的方式。

Market cycles and indicators no longer work.

市場週期和指標不再起作用。

Traditional market cycles? Technical analysis (TA) model? Today, the market is more influenced by liquidity games and macro events.

傳統的市場週期？技術分析（TA）模型？如今，市場受到流動性遊戲和宏觀活動的影響。

The fuel for the altcoin season has run out.

Altcoin季節的燃料已經用完了。

Money is no longer flowing into the altcoin market like it once did. Without new capital infusions, a full-blown altseason may never happen.

金錢不再像以前那樣流入Altcoin市場。沒有新的資本輸注，可能永遠不會發生全面的季前賽。

Bitcoin could drop to $40,000.

比特幣可能會降至40,000美元。

Yes, such a deep correction is possible. Market structure and liquidity suggest that a major correction is brewing.

是的，可以進行如此深刻的糾正。市場結構和流動性表明正在釀造重大更正。

Trump is not a silver lining for the crypto market.

特朗普不是加密貨幣市場的一線希望。

The market has performed better under Biden. Trump's policies may be more favorable to institutions rather than retail investors.

在拜登（Biden）的領導下，市場表現更好。特朗普的政策可能對機構而不是散戶投資者更有利。

GameFi is about to have a renaissance.

Gamefi即將進行文藝復興。

Web3 games are gradually maturing. If Grand Theft Auto 6 integrates blockchain technology, it may completely change the gaming industry.

Web3遊戲逐漸成熟。如果Grand Theft Auto 6集成了區塊鏈技術，則可能會完全改變遊戲行業。

SocialFi will become the next wave of trend.

Socialfi將成為下一波趨勢。

Tokenized communities, interactive rewards, and content monetization will become the inevitable development direction.

令牌化的社區，互動獎勵和內容貨幣化將成為不可避免的發展方向。

Complex technology is no longer the hot topic in this cycle.

複雜的技術不再是這個週期中的熱門話題。

The simpler the project, the more popular it is. Artificial Intelligence (AI), Decentralized Internet of Things (DePIN), and Real World Assets (RWA) are easy to understand, but modular blockchains are not.

項目越簡單，它越受歡迎。人工智能（AI），分散的物聯網（DEPIN）和現實世界資產（RWA）易於理解，但模塊化區塊鏈卻不是。

Binance's new listings no longer mean a surge.

Binance的新列表不再意味著激增。

Most of the new coins listed on Binance eventually fall. The hype cycle of the market has changed.

二元上列出的大多數新硬幣最終都會倒下。市場的炒作週期發生了變化。

A full-blown altcoin season may never return.

成熟的Altcoin賽季可能永遠不會回來。

Yes, some altcoins may see 10x or even 100x gains, but a huge rally covering all altcoins? Almost impossible.

是的，有些AltCoins可能會看到10倍甚至100倍的收益，但是覆蓋所有山寨幣的巨大集會？幾乎不可能。

Crypto markets never work as expected.

加密市場永遠無法正常工作。

If you think you have it all figured out, the market will prove you wrong. Adapt or be eliminated.

如果您認為自己已經弄清楚了，那麼市場將證明您是錯誤的。適應或被淘汰。