Grayscale Research: Bitcoin is expected to reach a historic high in 2026, and the four-year cycle theory will become invalid.

According to The Block, Grayscale Research stated that Bitcoin is expected to reach an all-time high in 2026, rebutting concerns in the market that Bitcoin is entering a long-term deep correction. In a report released on Monday, Grayscale Capital pointed out that Bitcoin is unlikely to follow the so-called "four-year cycle."
The market generally believes that the price of Bitcoin will experience a significant correction after reaching a peak every four years following its halving schedule. "Although there is uncertainty in the outlook, we believe that the four-year cycle theory will prove to be incorrect, and the price of Bitcoin is expected to reach a new historical high next year."
Grayscale analysts state that, unlike previous bull markets, this cycle has not seen the parabolic rise commonly associated with significant reversals; the current market structure is also different from the past, with institutional funds concentrated in exchange-traded products and digital asset reserves, rather than retail trading activities on spot exchanges.