#空投发现指南 【Analysis: Since Bitcoin's fourth halving, it has only risen 43.4%, far below the market performance after the previous three halvings】 Since Bitcoin completed its fourth halving in April 2024, the BTC price has only risen 43.4%, significantly lower than the increases of 7,000%, 291%, and 541% recorded after the previous three halvings, marking the worst performance for Bitcoin post-halving. Analysts indicate that factors such as macroeconomic uncertainty, trade policies of the Trump administration, outflows of ETF funds, and changes in market structure have collectively weakened the upward effect brought by the halving. Additionally, as the Bitcoin market matures, price volatility has decreased, with its 60-day volatility dropping from 200% in 2012 to the current approximately 50%, suggesting that future trends may be more stable but with limited increases. (Decrypt)