I found that institutions particularly like long-form value; it's very enjoyable to read, while forums and communities prefer shorter content. Yesterday, several large VCs told me that what I'm doing is charity; I could have sold quantitative data to make internal profits, but I feel that sticking to the right path and analyzing while writing with goodwill allows me to sleep well at night. $BTC $ETH #BTC重返10万 #BTC交易 Let's chop it up a bit more and share it with friends on the forum; I'm relatively socially anxious, and I actually post even less on Twitter.

Authors: SanTiLi, Naxida, Legolas

Abstract: Summary:
This article will focus on the four halving events of Bitcoin from 2012 to 2024, systematically sorting out Bitcoin's halving mechanism, inflation rate change trends, and exploring their impact on price trends in conjunction with market performance before and after each halving. Through historical data analysis and macro comparison, this article points out that Bitcoin has currently entered a phase where its inflation rate is lower than that of gold, its scarcity has become increasingly prominent, and it is gradually possessing long-term value logic to contend with traditional assets. Meanwhile, from the cyclical rhythm of the four halvings, while the increase has been moderate since the 2024 halving, it is still in the accumulation phase, and the true window may gradually open between 2025 and 2026. The article concludes by discussing Bitcoin's core value foundation, including scarcity, decentralization mechanism, and deflationary model, pointing out that its logic as "digital gold" is maturing.