Name: 比特幣崩跌的真正原因！ (The Real Reason Why Bitcoin Is Crashing)
Uploaded: 2026-03-08T18:04:06.000Z
Duration: 12 min

Bitcoin is down by about 50% since its peak.

程度副詞

And people are freaking out because people have lost millions of dollars and some huge institutions have even lost billions of dollars.

大家都很恐慌，因為有人賠了數百萬美元，甚至一些大型機構也賠了數十億美元。

情態副詞

And a lot of people don't seem to understand what exactly has happened to bitcoin.

很多人似乎不明白到底對 Bitcoin 發生了什麼事。

Just recently there has been predictions that bitcoin is about to cross a million dollars per coin.

就在最近，還有人預測 Bitcoin 很快就會漲到每枚一百萬美元。

所以你應該要抱緊你的 Bitcoin。

Why would you sell your bitcoins at $120,000 when the price of bitcoin sooner or later is going to be a million dollars or maybe $10 million per coin?

當 Bitcoin 的價格早晚會漲到一百萬美元，甚至一千萬美元時，你為什麼要在 12 萬美元的時候賣掉你的 Bitcoin 呢？

And this is not the first time that bitcoin price has collapsed.

這也不是 Bitcoin 價格第一次崩盤了。

If you just zoom out and you look at the history of bitcoin price, you will see that there has been a crash in 2022, there has been a crash in 2020, there has been a crash in 2017.

如果你把圖拉遠一點，看看 Bitcoin 的價格歷史，你會發現 2022 年有崩盤，2020 年有崩盤，2017 年也有崩盤。

And it seems like the price of bitcoin moves in cycles.

感覺 Bitcoin 的價格是週期性變動的。

But here is the reality that most people don't understand that bitcoin is one of the biggest wealth transfers in history.

但大多數人沒搞懂的現實是，Bitcoin 是史上最大規模的財富轉移之一。

It is probably moved or transferred more wealth than any other asset.

它可能轉移的財富比任何其他資產都多。

The value of bitcoin is determined by the price that people pay for it, but

Bitcoin 的價值是由人們願意支付的價格決定的，但

it does not actually have an intrinsic value inside it.

And I will get now criticized for saying something like that because people who are believers in bitcoin will tell me, no, the value of bitcoin comes from its network.

我現在可能會因為說這種話而被批評，因為相信 Bitcoin 的人會告訴我，不，Bitcoin 的價值來自於它的網路。

The more people are going to use it, the more valuable it is going to be.

越多的人使用它，它就會變得越有價值。

But there is one huge problem with that argument.

但這個論點有一個很大的問題。

Let's say that I buy Bitcoin for $50,000 and now the price have increased to $100,000.

假設我用 5 萬美元買了 Bitcoin，現在價格漲到了 10 萬美元。

I purchased it for $50,000 and I sold it for $100,000.

我以 5 萬美元買進，然後以 10 萬美元賣出。

Now the question is, why did the price of bitcoin has doubled over this period?

那麼問題來了，為什麼這段期間 Bitcoin 的價格會翻倍呢？

Well, because the network or the number of people who use bitcoin has doubled as well.

嗯，那是因為使用 Bitcoin 的網路或人數也翻倍了。

Then the next question is then why did the price of bitcoin has fallen from $120,000 to as low as $65,000?

那接下來的問題就是，為什麼 Bitcoin 的價格會從 12 萬美元跌到最低 6 萬 5 千美元呢？

Well, if the increase in value was because there was an intrinsic value inside it, then it is not really possible for the price of bitcoin to fall that much.

嗯，如果價值的增加是因為它有內在價值，那 Bitcoin 的價格就不可能跌這麼多。

But if you look at the price of bitcoin, it's to up always volatile.

但如果你看看 Bitcoin 的價格，它總是波動很大的。

And that's because bitcoin is a big wealth transfer mechanism and it's used by Wall street and its price is constantly manipulated.

那是因為 Bitcoin 是一個大型財富轉移機制，華爾街在使用它，它的價格也一直在被操縱。

I'm gonna get criticized for saying something like that as well.

But in this video, I will explain exactly how the price of Bitcoin is consistently being manipulated.

但在這支影片裡，我會詳細解釋 Bitcoin 的價格是如何持續被操縱的。

You can use that as a method to make money, because when you know how the price is manipulated, you can buy low and, and

你可以把它當成一種賺錢的方法，因為當你知道價格是如何被操縱時，你就可以低買，然後

But most people, or the most average investors don't understand how the price of bitcoin is manipulated.

但大多數人，或是說一般投資者，並不瞭解 Bitcoin 的價格是如何被操縱的。

And that's why bitcoin is this perfect mechanism where Wall street is literally ripping off the average bitcoin investor.

這也是為什麼 Bitcoin 成了一個完美的機制，讓華爾街能夠光明正大地剝削一般的 Bitcoin 投資者。

Wealth is consistently being moved from the average people who are buying bitcoins to the wealthy individuals.

財富不斷地從購買 Bitcoin 的一般人轉移到有錢人手上。

Have you realized that the price of bitcoin either dramatically rises or dramatically falls?

你有沒有發現 Bitcoin 的價格不是暴漲就是暴跌？

The price of anything in a free market is determin by supply and demand.

在自由市場裡，任何東西的價格都是由供需決定的。

If there is a lot of demand for anything, the value or the price is going to rise.

如果某樣東西的需求量很大，它的價值或價格就會上漲。

If there is a lot of supply on the other side, the price is going to plummet.

如果另一邊的供給量很多，價格就會暴跌。

So to understand the price of anything, all you have to do is to take a look at the demand and supply.

所以，要了解任何東西的價格，你只要看看它的供需就好。

And the problem with bitcoin is that the vast majority of demand for bitcoin is completely artificial.

而 Bitcoin 的問題在於，絕大多數的 Bitcoin 需求都是完全人為的。

Now, I will get a lot of criticism for saying something like that because.

If you look at the leverage ratios in bitcoin, there is literally like 50 to 1 or 100 to 1.

你看看 Bitcoin 的槓桿比例，根本是 50:1 甚至 100:1。

And that means that with a single dollar, you can buy $100 worth of bitcoin what exactly this dot means.

這代表你只要花一塊錢，就能買到價值一百塊的 Bitcoin，這點到底是什麼意思。

So if I have $1,000 and I'm going to buy $1,000 worth of bitcoins today, I can use a leverage ratio of 1 to 100, which means that now I have created, with $1,000, $100,000 worth of demand for bitcoin.

所以如果我有一千塊，今天想買一千塊的 Bitcoin，我可以用 100 倍的槓桿，這代表我用一千塊，創造了一萬塊的 Bitcoin 需求。

And because the basic laws of economics says that demand and supply determine the price, what exactly happens with the price of bitcoin?

而經濟學的基本法則說供需決定價格，那 Bitcoin 的價格會發生什麼事？

When I have created $100,000 worth of demand for bitcoin, obviously the price of Bitcoin is going to rise way faster than if I actually just use a thousand dollars to buy bitcoin.

當我創造了一萬塊的 Bitcoin 需求，顯然 Bitcoin 的價格會比我只用一千塊去買 Bitcoin 上漲得快多了。

This is just one simple example for you to understand the methodology.

這只是個簡單的例子，讓大家瞭解這個方法。

Now, if I'm going to use the exact same methodology and do the exact same thing with a million dollars, now suddenly, with just a million dollars, I am creating demand for Bitcoin worth $100 million.

那如果我用一百萬美金，用完全一模一樣的方法，做一模一樣的事情，那突然間，我用一百萬美金，就創造了一億美金的 Bitcoin 需求。

So the main reason that the price of bitcoin dramatically rises every Single time is because of so much leverage that is involved in bitcoin.

所以 Bitcoin 每次價格都暴漲的主要原因，就是因為有太多槓桿在裡面。

People are not using real money to buy Bitcoin.

大家不是用真實的錢去買 Bitcoin。

And when the demand for anything is artificial, sooner or later it is going to evaporate and it's going to disappear.

而當任何東西的需求是虛的，遲早都會蒸發、消失。

Because that artificial demand or the leverage ratio that I have used, I have to pay an interest on it, which means that sooner or later I have to give it back, which means that that demand is going to vanish, which means that the price of that asset should come back to the price that it was before that artificial demand was created.

因為這個虛的需求，或是說我用的這個槓桿比例，我必須要付利息，這代表遲早我必須要還錢，這代表這個需求會消失，這代表這個資產的價格應該會回到，在創造這個虛的需求之前，它原本的價格。

So with a million dollars, I'm creating demand for Bitcoin worth $100 million.

所以用一百萬美金，我創造了一億美金的 Bitcoin 需求。

That is going to attract a lot of other bitcoin buyers.

這會吸引很多其他的 Bitcoin 買家。

They will also use their leverage, 1 to 100 or 1 50, and

他們也會使用他們的槓桿，像是 100 倍或 50 倍，然後

they will create more artificial demand for Bitcoin.

他們會為 Bitcoin 創造更多虛假的市場需求。

So a billion dollars worth of demand for Bitcoin is instantly going to turn into $100 billion worth of demand for Bitcoin, and

所以原本價值十億美金的 Bitcoin 需求，會瞬間變成價值一千億美金的 Bitcoin 需求，

But everybody, especially the professional investors, understand that the vast majority of that demand is artificial.

但大家都知道，特別是專業投資者，絕大部分的需求都是虛假的。

Everybody has used leveraged to buy bitcoin.

每個人都用了槓桿來買 Bitcoin。

So if you are a smart person and you are there in Bitcoin because you want to profit out of bitcoin, what do you do?

所以如果你是個聰明人，而且你買 Bitcoin 是想從中獲利，你會怎麼做？

Suddenly, a portion of that artificial demand has actually evaporated and the price of Bitcoin plummets.

突然間，一部分虛假的市場需求就這樣蒸發了，Bitcoin 的價格也隨之暴跌。

When the price of bitcoin drops even slightly, what happens to your bitcoins?

當 Bitcoin 的價格稍微下跌時，你的 Bitcoin 會發生什麼事？

If you put just $1,000 and you took a position worth $100,000 and now the price of Bitcoin has dropped by 1%.

如果你只放了 1,000 美元，卻開了一個價值 100,000 美元的部位，現在 Bitcoin 的價格下跌了 1%。

So you already lost your thousand dollars.

Your position will get automatically liquidated.

Now, $100,000 worth of demand for bitcoin instantly evaporated.

現在，價值 100,000 美元的 Bitcoin 需求瞬間蒸發了。

Now take the exact same analogy and apply it to everybody else.

現在，用完全相同的比喻套用在其他人身上。

And that's why the price of bitcoin dramatically falls.

這就是為什麼 Bitcoin 的價格會大幅下跌。

It can just fall slightly because everybody's portfolio or everybody's position instantly gets liquidated.

它可能只會稍微下跌，因為每個人的投資組合或部位都會瞬間被清算。

And there is going to be a massive supply of bitcoin in the market and little demand on one side.

市場上會出現大量的 Bitcoin 供應，而需求卻很少。

And that's why the price of bitcoin either dramatically rises or it dramatically falls down.

這就是為什麼 Bitcoin 的價格要嘛大幅上漲，要嘛大幅下跌。

But how do you know that the price of Bitcoin is manipulated by Wall street since the size of bitcoin itself is not actually huge?

但你怎麼知道 Bitcoin 的價格是被華爾街操縱的，因為 Bitcoin 本身的規模其實並不大？

現在，1.3 兆美元是一筆很大的錢。

But if you compare that to the stock market, it worth like $70 trillion.

但如果跟股市比起來，股市的價值大概是 70 兆美元。

So a few ETFs or a few hedge funds with 10 tens of billions of dollars or even hundreds of billions of dollars could potentially buy billions of dollars worth of Bitcoin.

所以一些 ETF 或是一些擁有數十億甚至數百億美元的避險基金，就有可能購買價值數十億美元的 Bitcoin。

So what do these Wall street investors do?

那麼這些華爾街的投資人會怎麼做呢？

They will create an artificial or a real demand, I would say for Bitcoin.

我覺得他們會為 Bitcoin 創造出人為的或真實的需求。

The price of Bitcoin starts to rise slightly.

Bitcoin 的價格會開始稍微上漲。

That is going to attract a lot of average investors who are going to use leverage to profit from Bitcoin.

這會吸引很多一般投資人，他們會利用槓桿來從 Bitcoin 獲利。

When the price of Bitcoin instantly starts to rise and it reaches another height, what do you think these Wall street investors do?

當 Bitcoin 的價格瞬間開始上漲並達到另一個高峰時，你覺得這些華爾街的投資人會怎麼做？

They instantly start selling their assets.

他們會立刻開始賣出手上的資產。

So the reason that the price of Bitcoin has crashed dramatically since November is because hedge funds in Wall Street ETFs and huge financial institutions that own a lot of bitcoin, they sold $7.2 billion worth of bitcoins since November last year.

所以，自從十一月以來 Bitcoin 價格大幅下跌的原因是，華爾街的避險基金、ETF 以及擁有大量 Bitcoin 的大型金融機構，從去年十一月至今已經賣出了價值 72 億美元的 Bitcoin。

That led the price of Bitcoin to dramatically fall.

這導致 Bitcoin 的價格大幅下跌。

And because the vast majority of demand for Bitcoin was artificial to begin with, everybody's position was automatically canceled.

而且由於一開始對 Bitcoin 的絕大多數需求都是人為的，所以每個人的部位都被自動取消了。

And all that artificial demand, using leverage that drove the price of Bitcoin to $125,000 to begin with, instantly evaporated.

而所有那些利用槓桿將 Bitcoin 價格推升至 125,000 美元的人為需求，瞬間就蒸發了。

And that's why the price of Bitcoin plummeted to as low as $65,000.

這就是為什麼 Bitcoin 的價格會暴跌至 65,000 美元的低點。

Now that happens every single time whenever there is a lot of leverage in any asset.

現在，每當任何資產中存在大量槓桿時，都會發生這種情況。

If you go back to 2008 financial crisis, one of the main reason, if not the main reason, that the housing market turned into a bubble is because there was a lot of leverage involved in that asset.

如果你回顧 2008 年的金融危機，房地產市場之所以變成保麗龍，主要原因之一，如果不是主要原因的話，就是因為該資產涉及大量槓桿。

Suddenly the entire housing market turned into a bubble and then it crashed.

突然間，整個房地產市場變成了一個保麗龍，然後就崩盤了。

Now, Bitcoin is not going to crush the global economy just like the housing market did, because the housing market is the backbone of the US Economy and the United States economy is the backbone of the global economy.

現在，Bitcoin 不會像房地產市場那樣摧毀全球經濟，因為房地產市場是美國經濟的支柱，而美國經濟又是全球經濟的支柱。

If you go back to 1920s, before the great Depression happened, it was the exact same reason that crushed the stock market back in 1929 and led to the Great Depression.

如果你回顧 1920 年代，在大蕭條發生之前，正是同樣的原因摧毀了 1929 年的股市，並導致了大蕭條。

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比特幣崩跌的真正原因！ (The Real Reason Why Bitcoin Is Crashing)

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