Bitwise CEO Hunter Horsley claimed that the traditional 4-year cycle of the cryptocurrency market has virtually ended. At the 2026 Consensus Conference, he stated, “The existing cryptocurrency market used to repeat a 4-year cycle of 3 years of bull market followed by 1 year of bear market, but this pattern has now been broken. The market has entered a new phase and is being restructured into an institution-investor-centric structure, different from before.”
