比特幣減半倒數計時：市場準備迎接第四次供應衝擊

兩週後第四次比特幣減半即將到來，可能發生在 4 月 20 日。在此事件期間，礦工的區塊獎勵將從 6.25 BTC 減少至 3.125 BTC，繼續按計劃每四年進行一次減半。比特幣之前已經經歷了三次減半，區塊獎勵從 2012 年的 50 BTC 減少到 25 BTC，然後在 2016 年減少到 12.5 BTC，在 2020 年減少到 6.25 BTC。

Countdown to Bitcoin's Fourth Halving: Implications and Market Anticipation

比特幣第四次減半倒數：影響與市場預期

New York City, April 6, 2023 - The highly anticipated fourth Bitcoin halving is fast approaching, with just over two weeks remaining until the event is triggered. Based on Bitcoin's average block production time of 10 minutes, the date is estimated to occur around 1 p.m. ET on April 20.

紐約，2023 年 4 月 6 日 - 備受期待的第四次比特幣減半即將到來，距離該事件觸發僅剩兩週多時間。根據比特幣 10 分鐘的平均出塊時間，該日期預計發生在下午 1 點左右。美國東部時間 4 月 20 日。

The halving is a significant event in the Bitcoin ecosystem, occurring approximately every four years. It involves a 50% reduction in the block reward given to miners for verifying and adding new blocks of transactions to the blockchain. Currently, miners receive 6.25 BTC per block, and this reward will be reduced to 3.125 BTC post-halving.

減半是比特幣生態系統中的重大事件，大約每四年發生一次。它涉及將給予礦工驗證新交易區塊並將其添加到區塊鏈的區塊獎勵減少 50%。目前，礦工每個區塊可獲得 6.25 BTC，減半後獎勵將減少至 3.125 BTC。

Bitcoin's halving mechanism is programmed into its code and aims to control the issuance of new bitcoins into circulation. It is designed to create scarcity and maintain the asset's long-term value. To date, Bitcoin has experienced three halving events, reducing the block reward from 50 BTC in 2012 to 25 BTC in 2016, then to 12.5 BTC in 2020.

比特幣的減半機制被編程到其程式碼中，旨在控制新比特幣的發行進入流通。它旨在創造稀缺性並維持資產的長期價值。迄今為止，比特幣已經經歷了三次減半事件，區塊獎勵從2012年的50 BTC減少到2016年的25 BTC，再到2020年的12.5 BTC。

The halving event is significant for several reasons. Firstly, it creates a supply shock by reducing the number of new bitcoins entering the market. This can lead to increased demand and potentially higher prices. Historically, Bitcoin has exhibited price fluctuations around halving events, although a direct causal relationship has not been definitively established.

由於多種原因，減半事件意義重大。首先，它透過減少進入市場的新比特幣數量而造成供應衝擊。這可能會導致需求增加並可能導致價格上漲。從歷史上看，比特幣在減半事件前後表現出價格波動，儘管尚未明確建立直接因果關係。

Secondly, the halving event highlights Bitcoin's deflationary nature. Unlike fiat currencies, which can be inflated through quantitative easing, Bitcoin's supply is finite, with a maximum of 21 million bitcoins that can ever be mined. This scarcity is a key factor in Bitcoin's perceived value as a long-term store of value.

其次，減半事件凸顯了比特幣的通貨緊縮性質。與可以透過量化寬鬆政策通膨的法定貨幣不同，比特幣的供應量是有限的，最多可開採 2,100 萬枚比特幣。這種稀缺性是比特幣被視為長期價值儲存手段的關鍵因素。

One widely debated question surrounding the halving is whether the market has already "priced in" its impact. Some analysts believe that the recent bull run in Bitcoin's price may have already accounted for the halving's effect. However, others argue that the halving could still trigger a surge in demand and price appreciation.

圍繞減半的一個廣泛爭論的問題是市場是否已經「消化」了其影響。一些分析師認為，最近比特幣價格的牛市可能已經解釋了減半的影響。然而，其他人認為減半仍可能引發需求激增和價格升值。

According to Coinbase analysts David Duong and David Han, "This is the first halving cycle which saw bitcoin breach its all-time high before the halving, which could mean that the effect has already been priced in by savvy traders."

Coinbase 分析師 David Duong 和 David Han 表示，“這是第一個減半週期，比特幣在減半前突破了歷史高點，這可能意味著精明的交易者已經消化了這種影響。”

Despite this speculation, the analysts also acknowledge that there is still widespread anticipation that the halving may further increase prices, "which could result in behavior that results in a rally."

儘管有這樣的猜測，分析師也承認，人們仍然普遍預期減半可能會進一步提高價格，「這可能會導致價格上漲」。

The upcoming Bitcoin halving represents a significant milestone in the cryptocurrency's history and is an event that traders, investors, and enthusiasts alike will be monitoring closely.

即將到來的比特幣減半是加密貨幣歷史上的重要里程碑，也是交易者、投資者和愛好者都將密切關注的事件。