比特币在减半后进行修正，但长期前景仍未受到影响

比特币经历了大幅回调，过去两个月下跌了 17.8%。尽管出现减半后的调整，比特币的价格预测仍然乐观，表明 20-30% 的回调是典型的复苏。比特币网络强劲的基本面，包括最近观察到的算力增长，表明价格有可能大幅上涨，一些分析师预计其市值是目前的三倍，目标价为 26.5 万美元。

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

比特币出现减半后修正，但长期前景仍然看涨

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.

过去两个月，加密货币龙头比特币（BTC）经历了大幅回调，价格从历史高点73,794美元暴跌至60,987美元，大幅跌幅17.8%。最近的 4 月 19 日减半事件加剧了这种下降趋势，这种现象被称为减半后修正。

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，尽管出现暂时的挫折，比特币价格预测专家仍然保持乐观，他们强调，这种回调对于比特币来说在历史上很常见，使其能够从疲惫中恢复过来，并在继续其上行轨迹之前进行整合。

Robust Network Fundamentals Bolster Bitcoin's Long-Term Potential

稳健的网络基础增强了比特币的长期潜力

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 创始人 Ki Young Ju 进行的深入分析揭示了比特币网络的基本面，与上一个周期性峰值相比，比特币网络仍然足够强大，足以支持当前市值的三倍。

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

根据 Ju 对 CryptoQuant 数据的解释，这可能会将比特币价格推至 265,000 美元的令人眼花缭乱的高度。

"#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 网络基本面可能支持当前市值是上一个周期顶部的三倍，有可能维持 26.5 万美元的价格。” - 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 提供的图表将比特币价格与市值与算力的比率并列，显示出自上次峰值以来网络强度的显着改善。该数据描绘了这样一种情况：价格水平保持稳定，而算力呈指数增长，这表明比特币挖矿业务的潜在稳定性和效率提高。

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.

在可比价格点上算力的激增表明，仅基于网络基本面，当前市值可能被低估，为价格大幅上涨奠定了基础。

Circulating Supply and Market Capitalization Considerations

流通供应和市值考虑因素

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，比特币的总流通供应量预计将达到约 19,802,075 BTC，每日新增 450 BTC。为了实现每个比特币 265,000 美元的价格目标，所需的市值预计将达到 5.248 万亿美元。

Whales Accumulate as Fibonacci Levels Provide Respite

斐波那契水平提供喘息之机，鲸鱼积累

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.

对 BTC 每周时间框架图表的检查显示，价格试图在 38.2% 斐波那契回撤位建立坚实的支撑。传统上，该工具标志着买家的关键支撑水平，使他们能够在持续调整期间重新点燃购买压力。

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.

突出的拒绝蜡烛在 38.2% 水平和 60,000 美元大关的汇合处具有长灯芯，表明买家在市场调整期间持续积累比特币，这是既定上升趋势的标志。

Conclusion

结论

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.

尽管比特币最近经历了调整，但其长期前景仍然明确看涨。比特币网络强劲的基本面，加上鲸鱼的强劲积累，表明当前的回调只是比特币持续上涨轨迹中的暂时现象。随着网络不断发展壮大，流通供应量减少，比特币有望达到前所未有的高度，到 2024 年底可能达到 265,000 美元。