美國大選歷史重演，比特幣準備飆升！

Pantera Capital 是一家專門從事加密貨幣的投資公司，在其辦公室發布了其分析報告「加密貨幣的未來一年」。

Pantera Capital, a crypto-focused investment firm, has published its analysis “The Year Ahead in Crypto” from its offices. The report draws a parallel between two major events: the launch of the Spot Bitcoin ETFs in January 2024 and the upcoming inauguration of Donald Trump. In both cases, the asset manager anticipates a persistent bullish dynamic, running counter to the tradition of traditional financial markets.

Pantera Capital 是一家專注於加密貨幣的投資公司，在其辦公室發布了其分析報告「加密貨幣的未來一年」。該報告將兩個重大事件進行了比較：2024 年 1 月推出現貨比特幣 ETF 和唐納德·川普即將就職。在這兩種情況下，資產管理公司都預期將出現持續的看漲動態，這與傳統金融市場的傳統背道而馳。

Recent history seems to support their view. Since the approval of the Spot Bitcoin ETFs, BTC has recorded an increase of over 100% and the funds have attracted over $40 billion in investments. This performance demonstrates that the crypto market can maintain its momentum long after the official confirmation of a positive news.

最近的歷史似乎支持他們的觀點。自現貨比特幣ETF核准以來，BTC漲幅超過100%，基金吸引了超過400億美元的投資。這一表現表明，在官方確認利好消息後，加密貨幣市場仍能長期保持勢頭。

The pro-crypto stance taken by Donald Trump reinforces this optimistic outlook. His strategic appointments, notably that of Paul Atkins as head of the SEC and David Sacks as crypto advisor at the White House, reflect a willingness to support the development of the blockchain industry.

唐納德·川普採取的支持加密貨幣的立場強化了這種樂觀的前景。他的策略任命，特別是保羅·阿特金斯 (Paul Atkins) 擔任 SEC 主席和大衛·薩克斯 (David Sacks) 擔任白宮加密貨幣顧問，反映了支持區塊鏈行業發展的意願。

A Macroeconomic Context to Watch

值得關注的宏觀經濟背景

Although Bitcoin recently took a pause after surpassing $100,000 in December, Pantera attributes this slowdown more to monetary policy than to political uncertainties. The prospect of a slower-than-expected decline in rates by the Federal Reserve and the strengthening of the dollar have temporarily weighed on risky assets.

儘管比特幣在 12 月突破 10 萬美元後最近出現了停頓，但 Pantera 將這種放緩更多地歸因於貨幣政策，而不是政治不確定性。聯準會降息速度慢於預期以及美元走強的前景暫時令風險資產承壓。

Several industry experts, including Jack Mallers, CEO of Strike, anticipate strong measures as soon as the new president takes office. The possible signing of a decree recognizing Bitcoin as a reserve asset is among the scenarios discussed, which could trigger a new wave of institutional adoption.

包括Strike執行長傑克·馬勒斯(Jack Mallers)在內的幾位行業專家預計，新總裁一上任就會採取強有力的措施。討論的場景之一是簽署承認比特幣作為儲備資產的法令，這可能會引發新一輪的機構採用浪潮。

Scott Mason, political advisor at Holland & Knight, emphasizes that Trump’s arrival enhances the legitimacy of Bitcoin among traditional investors. This increased credibility, combined with a potentially more favorable regulatory framework, could catalyze the next phase of the bull market.

Holland & Knight 政治顧問 Scott Mason 強調，川普的到來增強了比特幣在傳統投資者中的合法性。可信度的提高，加上可能更有利的監管框架，可能會促進牛市的下一階段。

Analysts at Pantera Capital conclude that the American election, far from being a mere speculative event, represents a true structural turning point for the crypto market. The convergence between institutional adoption and political support should, according to them, fuel the rise of Bitcoin.

Pantera Capital 的分析師得出的結論是，美國大選遠非純粹的投機事件，而是加密貨幣市場真正的結構性轉折點。他們認為，機構採用和政治支持之間的整合應該會推動比特幣的崛起。

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Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermely que Bitcoin est l'outil qui peut rendre cela possible.

我對比特幣充滿熱情，喜歡探索區塊鏈和加密貨幣的複雜性，並與社群分享我的發現。我的夢想是生活在一個每個人的隱私和財務自由都得到保障的世界，我堅信比特幣是實現這一目標的工具。