The competitive and cooperative relationship between central bank digital currencies (CBDCs) and private cryptocurrencies impacts their price trends. In competition, if CBDCs gain more acceptance in payment scenarios, it may reduce the demand for some private cryptocurrencies, putting downward pressure on their prices. However, in cooperation, for example, if private cryptocurrencies can be used in tandem with CBDCs in certain cross - border or innovative financial services, it may increase the utility of private cryptocurrencies and potentially drive up their prices.