Golden Finance reported that, according to Cointelegraph, the cryptocurrency market has traditionally followed a four-year bull and bear market cycle seemingly centered around Bitcoin halving. However, according to industry analysts and experts, this pattern may be breaking down. Writer and investor Jason Williams posted on the X platform on Sunday, stating: “The top 100 Bitcoin reserve companies hold nearly 1 million Bitcoins. This is why the four-year Bitcoin cycle is over.” Matthew Hougan, Chief Investment Officer of Bitwise Asset Management, also expressed similar views in an article published on Friday. Hougan said: “It’s not officially over until we see positive returns in 2026. But I believe we will see them, so let’s put it this way: I believe the four-year cycle is over.” This echoes his comments made in July. In the past three market cycles, Bitcoin's price peaks have occurred in the year following the halving, namely in 2013, 2017, and 2021. According to this pattern, the next peak should be four years later in 2025.