🪙 Why is the four-year cycle no longer relevant?
❕ Following the CEO of CryptoQuant, the investment director of Bitwise also pointed out that the traditional model of cycles of $BTC is losing significance:
➖ The halving is becoming less relevant.
➖ The macroeconomic environment is now more favorable; interest rates no longer press as they did in 2018 and 2022.
➖ There are fewer collapse risks thanks to an improved regulatory environment and institutional adoption.
➖ The new risk is the increase of companies holding $BTC on their balance sheets.
➡️ Long-term trends are replacing the four-year cycle:
➖ Flows into ETFs are just beginning: it's a 5–10 year trend.
➖ Institutional investors are actively entering the crypto market.
➖ Regulatory changes are expected by January 2025.
➖ Wall Street has joined the process following the approval of the GENIUS law.
👇 What do you think?