比特幣在減半後進行修正，但長期前景仍未受影響

比特幣經歷了大幅回調，過去兩個月下跌了 17.8%。儘管出現減半後的調整，比特幣的價格預測仍然樂觀，顯示 20-30% 的回檔是典型的復甦。比特幣網路強勁的基本面，包括最近觀察到的算力成長，顯示價格有可能大幅上漲，一些分析師預計其市值是目前的三倍，目標價為 26.5 萬美元。

Bitcoin Exhibits Post-Halving Correction, but Long-Term Outlook Remains Bullish

比特幣出現減半後修正，但長期前景仍看漲

Over the past two months, Bitcoin (BTC), the leading cryptocurrency, has undergone a significant correction, with its price plummeting from its all-time high of $73,794 to $60,987, marking a substantial 17.8% loss. This downward trend has been exacerbated by the recent halving event on April 19, a phenomenon known as post-halving correction.

過去兩個月，加密貨幣龍頭比特幣（BTC）經歷了大幅回調，價格從歷史高點73,794美元暴跌至60,987美元，大幅跌幅17.8%。最近的 4 月 19 日減半事件加劇了這種下降趨勢，這種現象稱為減半後修正。

However, despite this temporary setback, BTC price prediction experts remain optimistic, emphasizing that such retracements are historically common for Bitcoin, allowing it to recover from exhaustion and consolidate before continuing its upward trajectory.

然而，儘管出現暫時的挫折，比特幣價格預測專家仍然保持樂觀，他們強調，這種回調對於比特幣來說在歷史上很常見，使其能夠從疲憊中恢復過來，並在繼續其上行軌跡之前進行整合。

Robust Network Fundamentals Bolster Bitcoin's Long-Term Potential

穩健的網路基礎增強了比特幣的長期潛力

An in-depth analysis conducted by Ki Young Ju, the Founder of CryptoQuant, sheds light on the underlying fundamentals of the Bitcoin network, which remain robust enough to support a market capitalization potentially three times its current size compared to the last cyclical peak.

CryptoQuant 創辦人 Ki Young Ju 進行的深入分析揭示了比特幣網路的基本面，與上一個週期性高峰相比，比特幣網路仍然足夠強大，足以支持當前市值的三倍。

According to Ju's interpretation of CryptoQuant's data, this could propel Bitcoin prices to dizzying heights of $265,000.

根據 Ju 對 CryptoQuant 數據的解釋，這可能會將比特幣價格推至 265,000 美元的令人眼花繚亂的高度。

"#Bitcoin network fundamentals could support a market cap three times its current size compared to the last cyclical top, potentially sustaining a price of $265K." - Ki Young Ju

“#Bitcoin 網路基本面可能支持當前市值是上一個週期頂部的三倍，有可能維持 26.5 萬美元的價格。” - 奇英珠

The graph presented by Ju juxtaposes the Bitcoin price with the market cap-to-hashrate ratio, revealing a significant improvement in network strength since the last peak. The data paints a picture of a scenario where the price level holds steady while the hashrate has grown exponentially, indicative of underlying stability and heightened efficiency in Bitcoin mining operations.

Ju 提供的圖表將比特幣價格與市值與算力的比率並列，顯示出自上次高峰以來網路強度的顯著改善。這些數據描繪了這樣一種情況：價格水準保持穩定，而算力呈指數增長，這表明比特幣挖礦業務的潛在穩定性和效率提高。

This surge in hashrate at comparable price points suggests a possible undervaluation of the current market cap based on network fundamentals alone, laying the groundwork for substantial price appreciation.

在可比較價格點上算力的激增表明，僅基於網絡基本面，當前市值可能被低估，為價格大幅上漲奠定了基礎。

Circulating Supply and Market Capitalization Considerations

流通供應和市值考慮因素

By the end of 2024, the total circulating supply of Bitcoin is projected to reach approximately 19,802,075 BTC, accounting for the daily addition of 450 BTC. To realize the price target of $265,000 per Bitcoin, the requisite market capitalization ascends to an estimated $5.248 trillion.

到 2024 年底，比特幣的總流通供應量預計將達到約 19,802,075 BTC，每日新增 450 BTC。為了實現每個比特幣 265,000 美元的價格目標，所需的市值預計將達到 5.248 兆美元。

Whales Accumulate as Fibonacci Levels Provide Respite

斐波那契水平提供喘息之機，鯨魚積累

An examination of the weekly time frame chart for BTC unveils the price attempting to establish solid support at the 38.2% Fibonacci retracement level. This tool traditionally signifies crucial support levels for buyers, enabling them to rekindle purchasing pressure during an ongoing correction.

對 BTC 每週時間框架圖表的檢查顯示，價格試圖在 38.2% 斐波那契回檔位建立堅實的支撐。傳統上，該工具標誌著買家的關鍵支撐水平，使他們能夠在持續調整期間重新點燃購買壓力。

The prominent rejection candle with a long wick at the confluence of the 38.2% level and the $60,000 mark demonstrates the persistent accumulation of Bitcoin by buyers amidst market correction, a hallmark of well-established uptrends.

突出的拒絕蠟燭在 38.2% 水平和 60,000 美元大關的匯合處具有長燈芯，表明買家在市場調整期間持續積累比特幣，這是既定上升趨勢的標誌。

Conclusion

結論

While Bitcoin has experienced a recent correction, its long-term outlook remains unequivocally bullish. The robust fundamentals of the Bitcoin network, coupled with strong accumulation by whales, suggest that the current retracement is merely a temporary blip in Bitcoin's relentless upward trajectory. As the network continues to grow stronger and the circulating supply dwindles, Bitcoin is poised to scale unprecedented heights, potentially reaching $265,000 by the end of 2024.

儘管比特幣最近經歷了調整，但其長期前景仍然明確看漲。比特幣網路強勁的基本面，加上鯨魚的強勁積累，顯示當前的回檔只是比特幣持續上漲軌跡中的暫時現象。隨著網路不斷發展壯大，流通供應量減少，比特幣預計將達到前所未有的高度，到 2024 年底可能達到 265,000 美元。