From the perspective of Bitcoin's halving mechanism, it halves every four years, reducing mining rewards and increasing the scarcity on the supply side, which often drives up prices. In April 2024, Bitcoin will have completed a halving. In 2025, with a significant reduction in new supply, if demand remains constant or increases, prices are expected to rise further. Additionally, the launch of Bitcoin ETFs in 2024 provides investors with more ways to participate, attracting a large influx of funds, and institutional interest in Bitcoin is continuously rising, with major financial institutions like BlackRock viewing Bitcoin as 'digital gold' and an alternative store of value, a trend that may persist and drive prices up in 2025.