#比特币价格波动 Looking back at the development of Bitcoin over the past decade, price fluctuations have always been the focus of market attention. Recently, I noticed that Galaxy Digital has lowered its year-end target price for Bitcoin from $185,000 to $120,000, which reminded me of the experiences during the past few bull and bear cycles.

In fact, market predictions have always been difficult to make accurately, especially in such an emerging and highly volatile field. The reasons given by Galaxy include changes in whale distribution, declining investment interest, and capital rotation, all of which are indeed worth following. However, historically, short-term market sentiment tends to overreact, while long-term development trends are key.

Looking back at the craziness at the end of 2017 and the winter of 2018, as well as the ups and downs since 2020, the market always swings between extreme optimism and pessimism. However, from a broader perspective, the fundamentals of Bitcoin have been continuously improving - technological advancements, institutional adoption, clearer regulations, and so on.

Therefore, regarding the current market expectation adjustment, my view is: maintain rationality and follow the long term. Short-term fluctuations are bound to affect emotions, but true value often requires time to be validated. History tells us that those who can maintain their faith during market downturns often end up with substantial rewards. Of course, this does not mean blind optimism, but rather an objective analysis and weighing of risks.

After all, in this rapidly evolving field, the only constant is change itself. We should draw wisdom from past experiences and view the current market fluctuations with a longer-term perspective.