The United States plans to classify Bitcoin as collateral, making it no longer a fantasy to take out loans with Bitcoin to buy houses or U.S. stocks. The deeper Bitcoin is tied to American interests, the lower the probability of a collapse and sharp decline in the future. Some ask whether this time will break the four-year bull-bear cycle and enter a long-term slow bull market. I believe it will:

First, large U.S. institutions and central banks around the world are continuously withdrawing Bitcoin liquidity, making the chips more stable.

Second, from the perspective of long-term holders, the distribution of old Bitcoin chips in this round has basically been completed, with a high turnover near 100,000. After the Israel-Hamas conflict, Bitcoin quickly recovered from its decline, showing that demand remains strong.

Third, past bull-bear cycles were reflected in halving events, where each halving would lead to a bull market due to the supply being cut in half. However, the impact of future halving effects is no longer significant, as even reducing mining by half will not have a noticeable effect.

Finally, after the U.S. recognizes Bitcoin, there will be many institutions and governments that need Bitcoin as a reserve asset. The future issuance of stablecoins will grow exponentially, and the demand for Bitcoin will also increase exponentially. The anchor asset will shift from real-world gold and cash to digital-world Bitcoin stablecoins. The future is here, so let's not easily talk about a top! Bitcoin will be the core asset of the future world, so continue to be a patient holder.