Bitcoin's performance in 2025 has been nothing short of crazy – surpassing the $120,000 mark and reaching a maximum of around $126,000. After the excitement, the market began to hit the brakes, and the sentiment went from feverish to conservative, and the rally slowed significantly. Many people are asking: What will happen next?

Instead of guessing, let's see what history says. Bitcoin actually follows a set of "thunderous" four-year halving cycles - in each cycle, the law is "three years up and one year down". In other words: the year of the halving and the two years before and after it, the market is usually upward; The rest of the year will have to be prepared to stumble.

What about the current situation? 2024 is a half-year reduction, and we are in that wave of strong rise. 2025 is a record high, and this is the peak moment of this bull market. Even if there is a slight correction at the end of the year, it will not be able to turn over the bull market.

Just look at the historical data. In the previous three bull markets, each time it was like this: after surviving the halving, the price had to be given 12 to 18 months to really soar. The increase is that the madness of dozens of times in the early days is no longer going back - the market is more mature and there are too many participants. The most ruthless thing is: every time the bull market is over, the price has to be smashed down by more than 70%, which has almost become an iron law.

So will there be an exception this time? Some people say that this time is different. The large-scale entry of institutional funds, ETFs, and Wall Street funds has made the market more rational, and the drawdown may not be so fierce. But history tells us another story - those laws are like genes engraved in the currency circle, repeating themselves again and again.