Can the four-year cycle of Bitcoin be broken? In fact, many people have the answer in their hearts, but they just dare not say it.

The so-called "four-year cycle" is more of a psychological comfort—when a bull market comes, everyone treats it as a rule. But today, this market is no longer dictated by those miners and retail investors from back then; the players have become increasingly complex, institutional calculations are more precise, and macro variables are too numerous to count.

Cycles are not the Bible; they are just shadows of a bygone era. As long as demand is strong enough, capital is fierce enough, and narratives are fresh enough, they can be broken at any time. AI, ETFs, national-level funds, compliance... these unprecedented variables, if one exceeds expectations, the rhythm is disrupted.

So I now believe: Bitcoin does not look at cycles, but at strength. When the strength arrives, it does not need to rhyme with history; it itself is a new history.