Cointelegraph ke mutabiq, crypto market ke traditional chaar saal ke bull aur bear cycles, jo aksar Bitcoin halving events se judi hoti hain, ab industry ke analysts aur experts ki nazar mein hain. Jason Williams, ek author aur investor, ne X par kaha ke top Bitcoin treasury companies mil kar kareeban ek million Bitcoin hold karti hain, jo is baat ki taraf ishara karta hai ke yeh established cycle khatam ho raha hai. Matthew Hougan, Bitwise Asset Management ke chief investment officer, ne bhi CNBC article mein yeh baat dohrayi ke cycle ka khatma tab tak official nahi jab tak 2026 mein positive returns na aayein, magar wo maan rahe hain ke cycle ab khatam hai.
Tareekhi taur par, Bitcoin ke price peaks halving ke agle saal hotey hain, jaise 2013, 2017, 2021, aur shayad 2025 mein bhi. Harry Collins, Bluefin community lead, October mein bull market peak ki tawaqqo karte hain, jo cycle ke tabdeel hone ka saboot samjha ja raha hai. Pierre Rochard, The Bitcoin Bond Company ke CEO, ne bhi X par kaha ke chaar saal ke cycles shayad khatam ho chuke hain, kyun ke Bitcoin halvings trading dynamics par itna asar nahi daalte jaise pehle daalte thay, kyun ke zyada BTC pehle hi mine ho chuka hai. Wo ye bhi kehte hain ke ab demand retail, ETPs aur treasury companies se aa rahi hai.
Martin Burgherr, Sygnum Bank ke Chief Clients Officer, ne Cointelegraph ko bataya ke chaar saal ka halving cycle ab bhi ek useful reference hai, magar ab market behavior ka sirf ye hi factor nahi raha. Jaise jaise market mature ho raha hai, macroeconomic conditions, institutional capital flows, regulatory developments aur ETF adoption ka asar bhi barhta ja raha hai. Wo kehte hain ke chaar saal ka framework ab sirf ek input hai, market trends ka central script nahi.
Lekin sab experts is baat se mutafiq nahi hain. Crypto analyst 'CRYPTO₿IRB' ne apne X followers ko bataya ke chaar saal ke cycle ko dismiss karna ghalat hai, aur ETFs ki wajah se ye cycle mazboot bhi hua hai kyun ke ye traditional finance ke presidential cycles se match karta hai. Wo bhi kehte hain ke Bitcoin ke halving events mathematically programmed hain aur unko cancel nahi kiya ja sakta. Seamus Rocca, Xapo Bank ke CEO, ne July mein Cointelegraph ko bataya ke prolonged bear market ka khatra abhi bhi maujood hai, aur Bitcoin ka cyclical nature abhi bhi qayam hai. Rocca skeptical hain un dawon par ke institutional involvement ne Bitcoin ke cycles khatam kar diye hain, aur kehte hain ke traditional cycle abhi bhi ahmiyat rakhta hai.
Aap ko kya lagta hai, Bitcoin ka ye old cycle ab bhi market mein chal raha hai ya sach mein kuch bada badlaw aa gaya hai? 
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