Grayscale: 2026 will witness the end of the blockchain 'four-year cycle'! In the first half of 2026, BTC prices are expected to hit new highs! With U.S. crypto legislation taking effect and the 20 millionth Bitcoin mined in March 2026, the four-year cycle theory might come to an end. Thanks to the continuous influx of institutional funds, the traditional 'four-year cycle' theory could officially become obsolete, and the market may shift to a macro demand-driven long bull run. With uncertainty surrounding fiat currencies and the 20 millionth Bitcoin expected to be mined in March 2026, the consensus on scarcity will accelerate capital flow from traditional assets to digital ones.