比特币减半：加密货币分水岭时刻推动价格飙升

周五发生了减半，即进入流通的比特币数量自动减少 50%。这种机械操作，硬编码在比特币的设计中，是加密货币世界的世界杯，每四年举行一次，并引发高度情绪。比特币信徒预计，这次减半将推高其价值，就像过去一样。尽管一些怀疑论者警告不要过度热情，但加密货币忠实者的长期情绪仍然乐观。

Bitcoin's Halving: A Cryptocurrency Watershed Moment

比特币减半：加密货币的分水岭时刻

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%.

在一场备受期待的事件中，比特币四年一次的“减半”发生在加密货币领域。这种精心策划的操作嵌入了比特币的复杂设计中，自动将进入流通的新比特币数量大幅削减了 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.

减半就像加密货币爱好者的世界杯一样，每四年都会激起肆无忌惮的情绪。加密货币借贷机构 Nexo 的联合创始人 Antoni Trenchev 简洁地描述了这一预期：“猜测比特币每次减半后的结局是终极游戏。”在历史重演的信念的支持下，许多比特币的热心支持者预测其价值将在八个月内翻倍。

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.

减半后，比特币价格周一上午飙升至约 66,192 美元，但仍低于历史高点。今年早些时候，在投资者兴趣激增和基于比特币的交易所交易基金 (ETF) 获得监管机构批准的推动下，比特币在 3 月份飙升至创纪录的 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 已成为主流投资者在不直接拥有加密货币的情况下参与比特币价格变动的门户。大量资金涌入比特币，导致比特币今年实现 40% 的惊人增长。

"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."

研究和咨询公司 Pacific Street 的董事总经理 Gareth Rhodes 表示：“从历史上看，每次减半都会导致看涨的价格走势。” “这是有道理的，因为供应减少通常会导致价格上涨。”

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.

比特币矿工是比特币区块链的保管人，他们在验证比特币交易时所付出的计算努力得到了补偿。减半将奖励从 6.25 比特币减少到 3.125 比特币。

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.

在乐观情绪中，加密货币怀疑论者仍然不相信，他们警告说，数字资产尚未展现出切实的现实实用性，并构成重大投资风险。软件工程师、著名加密货币评论家莫莉·怀特 (Molly White) 对之前的价格上涨和减半之间的因果关系提出了质疑。她指出，2020 年减半恰逢 COVID-19 大流行引发的宏观经济动荡，这推动了对风险资产的更广泛的投资热潮。

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.

维拉诺瓦大学金融学教授约翰·塞杜诺夫（John Sedunov）回应了这一警告，警告称比特币过去的表现并不能可靠地预测其未来，特别是考虑到当前的经济环境和采矿成本的潜在增长。

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.

根据设计，比特币的总供应量上限为 2100 万个。支持者认为，这种人为的稀缺性赋予了加密货币价值。另一方面，怀疑论者则认为，这种人造的稀缺性缺乏内在价值。摩根大通首席执行官杰米·戴蒙 (Jamie Dimon) 直言不讳地批评比特币，认为比特币是一种毫无价值的投资。

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.

尽管长期乐观情绪在比特币信徒中盛行，但围绕减半等事件的心理影响是众所周知的难以预测，并且可能引发极端波动，即使按照加密货币市场不稳定的标准也是如此。

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 首席执行官格雷格·比尔德 (Greg Beard) 承认围绕减半的炒作，但认为其言过其实。他强调了比特币越来越多的机构采用，并预测未来两年价格将大幅上涨。

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.

比特币减半是历史上影响其价格轨迹的关键事件。随着尘埃落定，这次减半是否会重蹈之前的覆辙，将比特币推向新的高度，还有待观察。然而，有一点是肯定的：减半再次引发了围绕比特币真正价值和在全球金融格局中的作用的激烈争论。