The future direction of Bitcoin presents three core trends:

1. **Halving effect and scarcity drive**: After the halving in 2024, the block reward will be reduced to 3.125 BTC. Historical patterns indicate that the price may experience explosive growth in the following year (2025), with institutional predictions ranging from $150,000 to $300,000, and in extreme scenarios, it could even exceed $500,000.

2. **Institutionalization and policy support**: The global approval of Bitcoin spot ETFs (such as BlackRock and Fidelity) is accelerating institutional capital inflow. If the U.S. implements a national Bitcoin reserve strategy, it may further solidify its status as “digital gold.” The pro-crypto policies of the Trump administration (such as the repeal of the SAB-121 regulation) and inflation hedging demands from multiple countries will enhance Bitcoin's safe-haven attributes.

3. **Technological innovation and ecosystem expansion**: The Lightning Network improves payment efficiency, and Layer 2 solutions (such as Stacks) introduce smart contract capabilities, driving Bitcoin's application in DeFi and cross-border payments, with significant long-term demand potential.

In terms of risks, regulatory discrepancies (such as SEC scrutiny) and high market leverage may trigger short-term corrections, but technological upgrades and long-term institutional holdings may support an upward trend amidst volatility.$BTC