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Key Takeaways
- 2017: Mainstream attention deepened the correction to approximately 84%.
- 2021: Institutional entry compressed the drawdown to roughly 77%.
- 2025: ETF approval and halving mechanics have rewritten the playbook.
- 2013: The longest bear market erased roughly 87% over 14 months.
The Four-Year Cycle: What Drives the Pattern
Bitcoin’s recurring boom and bust structure according to many are not random and are anchored to the halving, a programmatic event built into Bitcoin’s code that cuts the rate of new BTC issuance in half approximately every four years. Each halving reduces the daily supply entering the market, and historically that supply shock has taken ...
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