比特币减半临近，引发市场热议和投机

Bitwise 首席执行官 Hunter Horsely 将即将到来的比特币减半与 2020 年的比特币减半进行了类比，这在加密社区引起了轰动。预计 4 月 19 日减半将大幅减少比特币供应，并可能因需求增加而推高其价格。 Horsely 认为，影响可能会比 2020 年更大，当时比特币从 9,000 美元上涨到 70,000 美元。预计减半也会影响挖矿算力，如果比特币价格保持稳定或适度上涨，算力指数预计将下降 3-7%。

Bitcoin Halving Looms, Fueling Market Optimism and Speculation

比特币减半迫在眉睫，助长市场乐观情绪和投机

The cryptocurrency community is abuzz with anticipation as the highly anticipated Bitcoin halving event approaches on April 19. Industry experts, led by Bitwise Hunter Horsely's CEO, Hunter Horsley, are drawing parallels to the previous halving in 2020, which triggered a significant surge in Bitcoin's price.

随着 4 月 19 日备受期待的比特币减半事件的临近，加密货币社区充满了期待。以 Bitwise Hunter Horsely 首席执行官 Hunter Horsley 为首的行业专家将 2020 年的减半与此前引发比特币价格大幅飙升的情况进行了比较。 。

Horsley's analysis highlights the magnitude of the upcoming halving. This event, which occurs approximately every four years, will see the block reward for Bitcoin miners reduced by 50%, effectively constricting the supply of new Bitcoins entering the market. The reduction in supply is expected to exert upward pressure on Bitcoin's price, as demand remains steady or even increases.

霍斯利的分析强调了即将到来的减半的严重性。这一事件大约每四年发生一次，比特币矿工的区块奖励将减少 50%，从而有效限制了进入市场的新比特币的供应。由于需求保持稳定甚至增加，供应减少预计将对比特币价格施加上行压力。

The last halving in 2020 witnessed a dramatic price rally, culminating in Bitcoin reaching all-time highs. This has fueled optimism that the upcoming halving could propel Bitcoin's value even further, potentially surpassing the current $70,000 mark.

2020 年的上一次减半见证了价格的大幅上涨，最终比特币创下了历史新高。这引发了人们的乐观情绪，即即将到来的减半可能会进一步推高比特币的价值，有可能突破当前的 70,000 美元大关。

Contextual Factors and Hashrate Implications

背景因素和算力影响

The Bitcoin halving does not occur in isolation. It is embedded within a broader economic landscape that may influence its impact. Prior to the 2020 halving, the Federal Reserve implemented a zero-interest rate policy and initiated a quantitative easing program. These measures, aimed at stimulating economic recovery, also impacted the cryptocurrency market, contributing to Bitcoin's price surge.

比特币减半并不是孤立发生的。它嵌入到更广泛的经济格局中，可能会影响其影响。 2020年减半之前，美联储实施零利率政策并启动量化宽松计划。这些旨在刺激经济复苏的措施也影响了加密货币市场，导致比特币价格飙升。

The upcoming halving coincides with the Federal Reserve's contemplation of rate hikes. While the timing and extent of such hikes remain uncertain, their potential impact on cryptocurrency markets is a subject of keen speculation.

即将到来的减半恰逢美联储考虑加息。尽管此类加息的时间和程度仍不确定，但它们对加密货币市场的潜在影响引起了人们的广泛猜测。

Another aspect to consider is the impact of the halving on Bitcoin's hashrate, a measure of the computational power dedicated to Bitcoin mining. A recent study by Hashrate Index suggests that 3 to 7% of Bitcoin's hashrate could be affected after the halving, particularly if the price stabilizes or experiences moderate growth.

另一个需要考虑的方面是减半对比特币算力的影响，算力是衡量比特币挖矿专用计算能力的指标。 Hashrate Index 最近的一项研究表明，减半后 3% 到 7% 的比特币算力可能会受到影响，特别是如果价格稳定或经历适度增长的话。

This potential reduction in hashrate could have implications for miners, who may need to improve their efficiency and hedge against volatility and operational risks to remain profitable.

算力的潜在下降可能会对矿工产生影响，他们可能需要提高效率并对冲波动性和运营风险以保持盈利。

Bitwise's Ethereum ETF Filing

Bitwise 的以太坊 ETF 备案

In a separate but significant development, Bitwise recently filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for an Ethereum Spot ETF. This move underscores Bitwise's commitment to expanding investment opportunities in the cryptocurrency market.

Bitwise 最近向美国证券交易委员会 (SEC) 提交了一份以太坊现货 ETF 的 S-1 表格，这是一个单独但重要的进展。此举凸显了 Bitwise 对扩大加密货币市场投资机会的承诺。

Unlike futures-based ETFs, spot ETFs offer a more direct relationship with the underlying asset, providing investors with exposure to Ethereum's price movements. This aligns with Bitwise's philosophy of delivering innovative investment solutions.

与基于期货的 ETF 不同，现货 ETF 提供了与标的资产更直接的关系，为投资者提供了了解以太坊价格变动的机会。这符合 Bitwise 提供创新投资解决方案的理念。

The Ethereum Spot ETF application is a testament to the growing institutional acceptance of cryptocurrencies and the continued evolution of the digital asset landscape.

以太坊现货 ETF 申请证明了机构对加密货币的接受度不断提高以及数字资产格局的持续发展。

Conclusion

结论

The Bitcoin halving and the Ethereum Spot ETF filing by Bitwise are pivotal events that are expected to shape the cryptocurrency market in the coming months. The halving's potential impact on Bitcoin's price, coupled with the broader economic context and hashrate dynamics, creates a complex and dynamic environment for investors and market participants alike.

比特币减半和 Bitwise 提交的以太坊现货 ETF 申请是关键事件，预计将在未来几个月塑造加密货币市场。减半对比特币价格的潜在影响，加上更广泛的经济背景和算力动态，为投资者和市场参与者创造了一个复杂而动态的环境。

As the halving date nears, the cryptocurrency community will be closely monitoring developments, eager to witness the outcome of this highly anticipated event.

随着减半日期的临近，加密货币社区将密切关注事态发展，渴望见证这一备受期待的事件的结果。