Bitwise CIO Declares Four-Year Crypto Cycle Obsolete Citing Institutional Adoption and Regulatory Advances
Bitwise Asset Management’s Chief Investment Officer Matt Hougan has declared the traditional four-year cryptocurrency cycle obsolete, signaling a transformative phase for the industry driven by institutional adoption and regulatory advancements. The four-year pattern, historically tied to Bitcoin’s halving events and retail-driven speculation, is no longer dictating market dynamics, according to Hougan. Instead, long-term trends such as ETF inflows, institutional infrastructure investment, and evolving macroeconomic conditions are reshaping the sector’s trajectory [1].
Hougan attributes the collapse of the old cycle to three key factors: the diminishing significance of Bitcoin halvings, the shift to a positive interest rate…
