#比特币市场周期 I just saw Bridgewater founder Ray Dalio say that it’s unlikely for central banks to hold large amounts of Bitcoin, which made me think of a question—why would this affect Bitcoin’s market cycle?🤔

I used to be naive and think that if all the global central banks started buying Bitcoin, the price would skyrocket. But upon closer reflection, the transparency of transactions and the risk of being hacked that Dalio mentioned are indeed concerns that institutional big players care about. In other words, Bitcoin’s "supply pattern" might already be relatively fixed and unlikely to change fundamentally just because institutions enter the market.

This seems to imply that we shouldn’t expect any "central bank rescue" black swan events. Bitcoin’s price volatility will still largely depend on market sentiment and cycles, rather than waiting for some whale institution to save the day.

This might actually be good news for beginners—fewer unrealistic expectations, and instead, a more rational view of the market’s true supply and demand. Are there any friends also paying attention to this topic? Can someone help me explain the specific relationship between this and market cycles?