Since its birth, Bitcoin has experienced many market ups and downs, but the core driving force behind it is not traditional monetary policy or good news. Its unique vitality comes from its built-in halving mechanism. Looking back at history, no matter how the external economic environment changes, Bitcoin can always show its tenacious vitality in the market with its unique attributes.

Take 2017 as an example. Although the Fed's interest rate hike cycle has a certain impact on the global economy, Bitcoin has bucked the trend and achieved an astonishing 100-fold growth. Similarly, in the bull markets of 2013 and 2017, the surge in Bitcoin was not directly driven by large-scale monetary policies. In the bull market from 2020 to 2021, although the United States did not introduce unlimited quantitative easing policies, Bitcoin still maintained a strong upward momentum.

However, last year's bear market showed another side of Bitcoin. Even in the context of the United States' re-adopting loose monetary policy and the flooding of market funds, Bitcoin has not escaped the fate of falling. This phenomenon once again proves the independence of the Bitcoin market and that the basic principle of its bull-bear conversion is not simply determined by external factors.

Therefore, it is crucial for investors to understand the unique attributes and operating laws of the Bitcoin market. Only by deeply understanding the background

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