🟠 Why is the four-year cycle no longer relevant?

After the CEO of CryptoQuant, the investment director of Bitwise also noted that the traditional BTC cycle model is losing its significance:

— Halving is becoming less significant each time.

— The macro environment is more favorable now – interest rates are no longer exerting pressure as they did in 2018 and 2022.

— There are fewer risks of a crash due to improvements in the regulatory environment and institutional adoption.

— The new risk lies in the increasing number of companies holding BTC on their balance sheets.

Long-term trends are replacing the four-year cycle:

— Inflows into ETFs are just beginning – this is a trend for the next 5–10 years.

— Institutional investors are actively entering the crypto market.

— Regulatory changes are planned for January 2025.

— Wall Street has actively engaged in the process following the adoption of the GENIUS law.

"I expect not a supercycle, but steady growth."