Hunter Horsley: The Four-Year Cycle Will Be Broken Due to "Reflexivity," 2026 Remains Undefined
Jinse Finance reported that Bitwise CEO Hunter Horsley stated in a post: Here is what I have observed happening in each four-year cycle: General consensus: People believe in the four-year cycle, so 2026 will be a down year for bitcoin; First-order effect: Therefore, people will start selling in 2025 to avoid the downturn year; Second-order effect: The selling in 2025 causes 2025 to become the down year, thus breaking the four-year cycle; Third-order effect: 2026 remains undefined, but the four-year cycle is broken. Recently, Hunter Horsley also mentioned that the four-year cycle is a thing of the past. Since the launch of the bitcoin spot ETF, we have entered a new market structure: new participants, new dynamics, and new reasons for people to buy and sell. I believe it is very likely that we have already experienced nearly six months of a bear market and are about to emerge from it. The current environment for the development of cryptocurrencies has never been more favorable.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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