**[Grayscale Predicts Bitcoin Will Hit a New High in 2026, Challenges the "Four-Year Cycle Theory"]** According to a report by Jinse Finance, Grayscale Research stated that Bitcoin is expected to reach a new all-time high in 2026, countering concerns that "Bitcoin is entering a prolonged multi-year deep decline." In a report released on Monday, Grayscale Capital pointed out that Bitcoin may not necessarily follow the so-called "four-year cycle"—a widely held belief that Bitcoin's price peaks every four years (in sync with its halving cycle) and then undergoes a significant correction. Grayscale Capital analysts said: "Although uncertainties remain, we believe the 'four-year cycle theory' will eventually be proven wrong, and Bitcoin's price is likely to hit a new high next year." According to The Block's price page, Bitcoin has been in a volatile trend since early October. As of most of November, its price has fallen 32% from its peak. On Monday, Bitcoin's price briefly touched $84,000 before rebounding. As of 2:20 AM Eastern Time on Tuesday, the price had recovered to $86,909. Grayscale Capital noted that, based on historical data, long-term investors can achieve returns by holding assets through volatility, but in doing so, they often need to "endure sometimes challenging drawdowns." The firm added that during bull markets, corrections of 25% or more are quite common, and such corrections do not necessarily signal the beginning of a long-term downtrend.