Hunter Horsley: The four-year cycle will be broken due to "reflexivity," and 2026 remains undefined.

According to BlockBeats news, on November 16, Bitwise CEO Hunter Horsley stated that here are the observations I have made regarding the events that occur every four years: General view: People believe in four-year cycles, so 2026 will be a year of Bitcoin falling; First-order effect: Therefore, people will start selling in 2025 to avoid the market downturn year; Second-order effect: Sellers in 2025 make it a year of falling, thus breaking the four-year cycle; Third-order effect: 2026 remains undefined, but the four-year cycle is broken. Recently, Hunter Horsley mentioned, “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, new reasons for people to buy and sell. I believe we have likely experienced a bear market for nearly six months and are about to emerge from it. The current development environment of crypto assets has never been so favorable.”