Bitcoin's Long-Term Outlook Turning into a Stable Boom, Not a Supercycle

The Investment Director of Bitwise, Matt Hougan, also concluded that the four-year cycles for Bitcoin are no longer relevant. The forces that shaped these cycles have weakened in the new environment: - Halvings used to trigger demand shocks but have been replaced by consistent institutional and corporate purchases of cryptocurrency. - The risks of collapse have diminished due to improved regulation and industry institutionalization. - A new trend over the next 5-10 years is the influx of funds into BTC ETFs, which only more traditional financial institutions are now joining. Legislative support, such as the recent passage of the GENIUS Act, facilitates the entry of Wall Street players investing billions in cryptocurrencies in the coming years. "All of this suggests that long-term pro-cryptocurrency forces will overpower the classic four-year cycle factors—if such factors even exist. 2026 looks promising. I could be wrong, but we are likely headed for substantial volatility. I see this more as a 'stable, sustainable boom' rather than a supercycle," Hougan remarked.