Bible Notes Online - Daniel 8 - ESV
Commentary

v1-2: The next vision is dated during Belshazzar's reign, as in 7.1. Daniel sees the same overall vision, but with different details.

v3-4: The ram of Media and Persia, see v20.

v5-7: The arrival of Alexander the Great, and the army of Greece, see v21. His arrival was so swift that it seemed he did not even touch the earth.

v8: Four "prominent horns," representing the four kings who inherited Alexander's throne; he died at the height of his power, still as a young man, in 323 BC. See v22, and also the leopard of 7.6. See 11.4.

v9-12: Fulfilled 175 BC, in Antiochus Epiphanes, who attacked the "Beautiful Land" of Judah, and took away the daily sacrifices, see 7.25. He cast truth down to the ground, promoting falsehood, practising deceit, and denied honesty and integrity, see also v25. During his reign the Maccabean revolt, as faithful Jews stood strong against the ungodly empire.

v13-14: The dominion of this man is limited to "2300 days." This has been defined as the time from Antiochus’ desecration of the temple in 171 BC until its restoration in December 165 BC.

v15-19: Daniel tries to understand the meaning of the dream, as in 7.15. First we learn that it is through God's revelation that such things can be made known; as Gabriel is directed to reveal the meaning to Daniel.

The vision here, and other visions given to Daniel, refer to "the time of the end," and "the time of wrath...the appointed time of the end." He would not live to see these things fulfilled.  Daniel was chosen to bear the burden of seeing this vision, and delivering it to the people of God.

v20-22: Specific explanation of the vision. The ram is Media and Persia, the chest and arms of silver, 5.28; 6.8,15. The goat, Greece, is the belly and thighs of bronze.

v23-25: Referring again to Antiochus, v9-12. He did great damage in Judah, but ultimately was broken without human hand, as in 2.34.

v26: The truth of the vision is without question, but the time is "the distant future." It seems that the fulfilment of these events through the Roman Empire is but a prefiguring of a much later fulfilment.

v27: Daniel is troubled by the vision, as in 7.28, but he continued the king's business. Whatever we understand we have responsibility to obey God's call on our lives.