This time there will be, next time only half a tune will be sung, there will be other temporary replacements.

Bitcoin used to have a well-known 'four-year cycle': every four years, the production of new coins is halved. According to this pattern, prices would plummet before the halving and surge after. However, more and more people have recently discovered that this pattern may have become ineffective. In the initial surge in 2013, the price did rise due to the halving, which reduced the supply of new coins while increasing demand. But by 2017, the situation became complicated—although Bitcoin's price increase occurred after the halving, it coincided with the depreciation of the US dollar and fluctuations in US Treasury bonds, making it difficult to determine whether the halving was responsible or if it was due to the broader economic environment. By 2021, the relationship between Bitcoin's price increase and the halving was even less direct. Now, with the US government announcing its intention to include cryptocurrencies in national reserves, it is akin to an official recognition of their financial status. This means Bitcoin will increasingly resemble traditional assets like gold and stocks, with price fluctuations more influenced by global economic conditions and policy changes rather than a simple adjustment of production that occurs every four years. In short, Bitcoin has grown up and is starting to play the macroeconomic game alongside other financial giants.