Since its inception, Bitcoin's price movement has been thrilling like a roller coaster, attracting the keen attention of global investors. This digital money has become the focal point of the financial market due to its unique cyclical patterns and extreme price fluctuations.

The Bitcoin halving mechanism, which occurs once every four years, is one of the key factors driving its price increase. This mechanism creates a scarcity expectation by reducing the supply rate of new coins, thereby pushing prices up. Looking back at the past three halving cycles, we can clearly see the validation of this pattern:

After the first halving in 2012, the price of Bitcoin skyrocketed from $10 to $1000, an astonishing increase. The bull market triggered by the second halving in 2016 pushed its price from $400 to a historic high of $20,000. The third halving in 2020 further drove the price of Bitcoin from $9,000 to nearly $70,000 at its peak.

On April 20, 2024, Bitcoin will experience its fourth halving, with a price of approximately $63,914 on that day. Investors and analysts are closely following the potential market impact of this event, anticipating the repeat of historical patterns.

However, the development of Bitcoin has not been smooth sailing. It has experienced multiple fluctuations of over 50%, highlighting its extremely high investment risk. The most astonishing event was the crash in June 2011, when the price of Bitcoin plummeted from $32 to $0.01, a staggering decline of 99%. This crash was primarily caused by a hacker attack on the Mt. Gox exchange.

This intense price fluctuation reminds us that while Bitcoin has enormous potential returns, its inherent risks cannot be overlooked. Investors need to fully recognize the high-risk characteristics of the digital money market and, while pursuing high returns, also be prepared for risk management.

The future price movement of Bitcoin remains filled with uncertainty. On one hand, its cyclical patterns seem to provide investors with some basis for prediction; on the other hand, past crashes continuously remind us of the market's fragility. In this rapidly evolving digital money space, the only certainty might be the uncertainty itself.