Recently, there has been an increasing number of voices predicting Bitcoin prices, with a well-known exchange founder stating outright: "Bitcoin surging to $200,000 is almost a certainty," calling it "the most inevitable scenario about to unfold." This viewpoint immediately sparked widespread discussion in the market.

How credible is this prophecy? Looking at historical cycles, each halving cycle has been accompanied by large-scale institutional capital deployment. Changes in the global macro environment and continuous influxes of traditional capital are constantly reinforcing the consensus on Bitcoin's scarcity. Technological applications are also quietly penetrating—blockchain is no longer just theoretical.

The most convincing evidence comes from on-chain data. Despite frequent short-term fluctuations, the proportion of long-term holders continues to rise, active addresses on the chain steadily increase, and whale accounts show clear signs of accumulation. Behind these cold, hard numbers, it reflects that more and more participants are voting with their actions, betting that Bitcoin's story of value is far from over.

Interestingly, many people are still hesitating whether to enter the market, while major players are already looking further ahead. Having missed out on the past decade, what will the current choices lead to?

Will $200,000 really be achieved before 2025? Are you inclined to believe it, or prefer to wait and see?