The future of Bitcoin is expected to present a pattern of "short-term fluctuations, long-term optimism." In the short term, the market will be at odds between favourable factors such as the expectation of interest rate cuts in the U.S. and institutions continuously purchasing through ETFs, and unfavourable factors like macroeconomic uncertainty, regulatory risks, and early investors taking profits. The price is likely to fluctuate widely at high levels, and it is crucial to avoid momentum investing. In the long term, its core scarcity (the halving mechanism leads to a continuous decrease in new coin production) and the increasing demand for value storage as "digital gold" continue to strengthen, laying a solid foundation for its long-term value. Therefore, the long-term trend is still worth looking forward to, but the process will inevitably be accompanied by significant fluctuations and twists.