Grayscale predicts new bitcoin highs in 2026, dismisses 4-year cycle view

Grayscale Research published a report arguing that Bitcoin is unlikely to adhere to the traditional four-year cycle where prices peak and correct around halving events. Instead, Grayscale analysts believe Bitcoin's price will potentially set new highs next year (2026), despite recent volatility where BTC fell 32% from its peak in November. The firm suggests that while drawdowns are common, the current cycle differs because institutional money concentrated in ETFs is replacing prior retail-driven parabolic rallies. Furthermore, a supportive macro environment, including potential rate cuts and progress on U.S. crypto legislation, offers tailwinds. Tom Lee of BitMine echoed this sentiment, noting an attractive risk/reward profile as fundamentals advance while prices lag.

(Source：The Block)