The End of the Four-Year Cycle: Changes in the Cryptocurrency Market as Indicated by Bitwise's CIO

On the 25th, Matt Hogan, CIO of Bitwise, expressed his view that the traditional four-year cycle of the cryptocurrency market has ended. He analyzed that the cycle pattern no longer functions due to long-term factors such as the diminishing influence of halvings, growth in ETFs, and the entry of institutional investors.

Hogan cited the decreasing significance of halvings every four years and the favorable impact of interest rate cycles on cryptocurrencies as reasons for the end of the four-year cycle. He also noted that improvements in regulations and the institutionalization of the market have reduced the risk of major crashes as seen in the past.

As new long-term drivers, the shift of assets into ETFs over the next 5-10 years...