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## The Four-Year Cycle Argument and Crisis: Can the Halving Algorithm Still Dominate the Crypto Market?
Since Bitcoin's inception, the "four-year cycle" has almost become the cornerstone of cryptocurrency belief. Halving → Supply tightening → Price increase → Altcoin explosion—this narrative not only explains historical price fluctuations but also profoundly influences investor positioning, project funding rhythms, and even the industry's understanding of "time." But based on the performance after the April 2024 halving, the story seems to be changing.
**The gains brought by halving are far be

## 2026: The Era When Traditional Money and Digital Assets Connect
Grayscale's analysts see the coming year as a critical point in the cryptocurrency landscape, where institutional capital will be the main driver of growth. In their "Digital Asset Outlook: Dawn of the Institutional Era" report released on December 16, the company provides a comprehensive picture of how blockchain finance will integrate into traditional capital markets.
## Three Major Factors Changing the Market
**Regulation as the Clear Path**
Next year, Grayscale expects the US Market Structure Act and GENIUS Act to open form