The price of Bitcoin yesterday plummeted significantly due to news of the Federal Reserve's interest rate cut, briefly falling below $99,000, causing nearly 300,000 liquidations. Amid this huge volatility, Bitcoin's outlook faces numerous challenges:

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- Price volatility is extreme: The price of Bitcoin is like a roller coaster, rising and falling sharply in a short time. It reached a historic high of $108,135 on December 17, but by the early morning of the 19th, it had dropped below $99,000. Merchants find it difficult to accept it as a payment method, as recently received Bitcoin can quickly depreciate, leading to losses for merchants.

- High transaction costs and slow speed: Bitcoin transaction fees are high, and confirmation times are long, making it unable to meet the needs for rapid settlement in daily high-frequency trading scenarios, which limits its practicality in everyday consumption contexts.

- Uncertain policies and regulations: Countries have varying attitudes towards the legality of Bitcoin payments, with significant differences in regulatory policies. Some countries regard it as a virtual commodity or restrict its trading, resulting in a lack of a unified and stable legal environment for the promotion of Bitcoin payments.