#比特币价格走势分析 Reviewing the historical trends of Bitcoin, this round of fall is indeed thought-provoking. Since its inception in 2009, Bitcoin has experienced countless ups and downs. The current price has fallen from a peak of $125,000 to around $90,000, a drop of over 28%, which inevitably reminds people of the big dump at the end of 2017. However, the market environment is no longer what it used to be.

Analysts have differing expectations for the bottom, ranging from $75,000 to $94,500. I tend to believe that a medium-term support may form in the $80,000 to $90,000 range. After all, the participation of institutions is higher now, and the market depth is not as robust as before.

It is worth noting that this adjustment is accompanied by uncertainties in the macro economy. If the broader risk asset market experiences turbulence, the future direction of Bitcoin will become even more elusive. Historically, each round of bull and bear cycles has its uniqueness, but the core driving factors are often similar - changes in supply and demand dynamics, regulatory attitudes, macro environment, etc.

For investors, this may be a good time to reassess their risk tolerance and investment strategies. While it is certainly important to remember the age-old saying "be greedy when others are fearful," it is also crucial to weigh the current risk-reward ratio. After all, the market always seeks balance in extremes. Regardless of how low the final price may be, maintaining rationality and managing risks effectively is the key to success.