#Metaplanet增持比特币

Let’s analyze the key factor of Bitcoin's halving mechanism. As we all know, Bitcoin's production halves every four years. Historically, after the previous halvings, the market usually experiences a real price peak about 1 to 1.5 years later. Based on this timeline, the end of 2025 to early 2026 seems more likely to be the peak moment for the market, while the current pullback resembles a halftime break. Comparing the magnitude of the pullback, this time it has only dropped by 30%, whereas in 2017 and 2021, Bitcoin experienced significant pullbacks of 45% and 53% respectively. In contrast, the current pullback is not considered exaggerated. Additionally, the miners' cost line is currently around $78,000. If the price really falls to this level, miners will be reluctant to sell their Bitcoin due to cost considerations, which will provide some level of price support, like a natural moat.