ChainCatcher reported that according to The Block, Jasper De Maere, head of research at Web3 accelerator Outlier Ventures, said in a report that investors should accept the fact that "the four-year cycle model no longer exists" and that Bitcoin has experienced its worst price performance since halving this year.

Jasper De Maere said: "Halving no longer has a decisive impact on the price of BTC and other digital assets. As the digital asset market matures, it is time for founders and investors to get rid of the concept of a four-year cycle. 2016 was the last time that the production reduction had a major and fundamental impact on the price of Bitcoin. Since then, the block subsidy reward for Bitcoin miners has become insignificant against the backdrop of the increasing maturity and diversification of the cryptocurrency market."