币界网报道：Bitcoin's price volatility continues to spark debate as analysts warn of potential bubble risks amid recent market fluctuations. The cryptocurrency briefly dipped below $40,000 this week before rebounding, reigniting discussions about its long-term sustainability. Several prominent economists have drawn parallels between Bitcoin's price movements and historical asset bubbles, noting similar patterns of rapid appreciation followed by sharp corrections. However, crypto advocates argue that institutional adoption and growing mainstream acceptance differentiate Bitcoin from traditional bubble assets. Major financial institutions including JPMorgan and Goldman Sachs have issued conflicting reports, with some analysts maintaining bullish long-term price targets while others caution about short-term overvaluation. The debate intensifies as regulatory scrutiny increases globally, with the SEC delaying several Bitcoin ETF decisions and China maintaining its strict crypto ban. Meanwhile, blockchain analytics firms report significant accumulation by long-term holders despite price drops, suggesting strong believer support. The upcoming Bitcoin halving event in 2024 remains a key focus point for both bulls and bears, with historical data showing previous halvings preceded major price rallies. Market sentiment indicators currently show extreme fear levels, typically seen as potential buying opportunities by contrarian investors.