隨著減半事件的臨近，比特幣的狂野之旅加劇

即將到來的第四次比特幣減半引發了市場波動，在伊朗飛彈襲擊以色列的消息傳出後，比特幣價格暴跌至 62,000 美元。然而，在香港比特幣和以太坊現貨 ETF 獲得批准的推動下，隨後出現強勁反彈。減半預計將於 4 月 19 日至 20 日進行，預計將減少 BTC 供應，從歷史上看，這將導致牛市。不過，目前的市場狀況以及此次供應量減少幅度較小，增加了減半後價格回檔的可能性。

Bitcoin Price Volatility Intensifies Ahead of Upcoming Halving

在即將到來的減半之前，比特幣價格波動加劇

As the highly anticipated fourth Bitcoin halving rapidly approaches, the cryptocurrency markets have experienced significant price fluctuations, fueled by external events and the impending monetary policy change.

隨著備受期待的第四次比特幣減半迅速臨近，在外部事件和即將到來的貨幣政策變化的推動下，加密貨幣市場經歷了大幅的價格波動。

Weekend Turbulence

週末動盪

The weekend witnessed a tumultuous turn of events, with Bitcoin's price witnessing a sharp decline on Friday. Prior to the opening of US stock exchanges, Bitcoin maintained a stable position around $70,000. However, as European markets faltered, dragging US markets lower upon their opening, Bitcoin succumbed to the bearish momentum, tumbling below $66,000.

週末發生了一系列動盪，比特幣價格在周五大幅下跌。在美國證券交易所開盤之前，比特幣穩定維持在7萬美元左右。然而，隨著歐洲市場的疲軟，拖累美國市場開盤走低，比特幣屈服於看跌勢頭，跌破 66,000 美元。

Mini-Crash on Saturday

週六發生小型車禍

The weekend's respite proved to be short-lived, as a mini-crash ensued on Saturday. News of Iran's missile attack on Israel, amidst the closure of stock exchanges, had a particularly adverse impact on the cryptocurrency markets. Bitcoin's price plummeted to a level below $62,000, not seen since March 20, just a month prior. A modest rebound followed, restoring Bitcoin's value to around $63,000.

週末的喘息時間被證明是短暫的，週六發生了一場小型車禍。在證券交易所關閉期間，伊朗對以色列發動飛彈攻擊的消息對加密貨幣市場產生了特別不利的影響。比特幣價格暴跌至 62,000 美元以下，這是自一個月前的 3 月 20 日以來的最高水平。隨後出現小幅反彈，將比特幣的價值恢復至 63,000 美元左右。

Strong Reaction to Hong Kong News

香港新聞反應強烈

A resurgence emerged on Sunday evening, likely attributable to positive news from Hong Kong. The Securities and Futures Commission (SFC) of Hong Kong granted approval for spot ETFs on Bitcoin and Ethereum. This development raised expectations of the imminent debut of up to three new ETFs on the Hong Kong stock exchange.

週日晚間出現復甦，可能歸因於來自香港的積極消息。香港證券及期貨事務監察委員會（證監會）批准比特幣及以太幣現貨 ETF。這一事態發展引發了人們對多達三隻新 ETF 即將在香港證券交易所上市的預期。

Impact of Hong Kong ETFs

香港ETF的影響

The potential impact of these ETFs on Bitcoin's price remains uncertain. While it is unclear whether access to these products will be limited to Hong Kong residents or extended to mainland China, the retail market's influence could prove crucial.

這些 ETF 對比特幣價格的潛在影響仍不確定。雖然尚不清楚這些產品的使用是否僅限於香港居民或擴展到中國大陸，但零售市場的影響力可能至關重要。

In the United States, ETFs have primarily garnered support from retail investors, not institutional funds. If Chinese residents are restricted from investing in Hong Kong ETFs, the potential price benefits for Bitcoin may be diminished.

在美國，ETF主要獲得散戶而非機構基金的支持。如果中國居民投資香港 ETF 受到限制，比特幣的潛在價格優勢可能會減少。

Fourth BTC Halving

比特幣第四次減半

With approximately 700 blocks remaining until the next Bitcoin halving, anticipation continues to build. The halving, occurring at block number 840,000, is expected to take place during the night between Friday, April 19, and Saturday, April 20.

距離下一次比特幣減半還剩約 700 個區塊，人們的預期仍在不斷增強中。減半發生在區塊號 840,000，預計將在 4 月 19 日星期五至 4 月 20 日星期六之間的夜間發生。

The halving marks a significant monetary policy adjustment, reducing the reward for successfully mining a block to half its current value. This reduction in supply has historically preceded major bull runs, although the current bull market commenced prior to the halving.

減半標誌著重大的貨幣政策調整，將成功開採區塊的獎勵減少到目前價值的一半。從歷史上看，這種供應減少發生在重大牛市之前，儘管當前的牛市是在減半之前開始的。

Factors Influencing Post-Halving Price

減半後價格影響因素

Unique to this halving is the reduced reward cut of 450 BTC per day, a significant decrease compared to previous halvings. Additionally, the recent attainment of historical highs raises the possibility of a price decline post-halving.

本次減半的獨特之處在於每天獎勵減少 450 BTC，與先前的減半相比大幅減少。此外，最近達到的歷史高點增加了減半後價格下跌的可能性。

Macroeconomic conditions also suggest a potential correction in the markets. Once the highly anticipated halving event passes, a period of consolidation may ensue.

宏觀經濟狀況也顯示市場可能出現調整。一旦備受期待的減半事件過去，一段整合期可能會隨之而來。

Conclusion

結論

As the Bitcoin halving rapidly approaches, the cryptocurrency markets continue to navigate volatility induced by external events and the looming monetary policy shift. While the long-term implications of the halving remain uncertain, the combination of recent price fluctuations and impending changes underscores the dynamic nature of the crypto asset's price behavior.

隨著比特幣減半的快速臨近，加密貨幣市場繼續應對外部事件和迫在眉睫的貨幣政策轉變引發的波動。儘管減半的長期影響仍不確定，但近期價格波動和即將發生的變化的結合凸顯了加密資產價格行為的動態性質。