🤔 Why is the four-year cycle dead?
Following the CEO of CryptoQuant, the investment director of Bitwise stated that the classic BTC cycle model is becoming less relevant:
- Halving is becoming less significant each time.
- The macro environment is favorable—interest rates no longer pressure as in 2018 and 2022.
- Fewer risks of collapse due to regulations and institutionalization.
- A new risk—the rise in companies holding BTC on their balance sheets.
Long-term trends are replacing the four-year cycle:
- ETF inflows are just beginning—a 5–10 year trend.
- Institutional investors are entering the crypto market.
- Regulatory changes will take effect from January 2025.
- Wall Street is actively involved after the GENIUS law.
"I expect not a supercycle, but steady growth."
