The Bitcoin Cycle You Knew Is Dead, Says Capriole Founder

Capriole founder Charles Edwards argues that Bitcoin’s famous four-year boom-and-bust pattern has effectively ended—not because markets have matured into a placid equilibrium, but because the engine that once forced 80–90% drawdowns has been dismantled by Bitcoin’s own monetary design. The 4-Year Bitcoin Cycle Is Dead In his Update #66 newsletter published on August 15, 2025, Edwards writes that since the April 2024 halving, Bitcoin’s annual supply growth has fallen to roughly 0. 8%, “less than half of Gold’s 1. 5–3%,” adding that this shift “made Bitcoin the hardest asset known to man, with look-ahead certainty source: https://www.newsbtc.com/bitcoin-news/bitcoin-cycle-you-knew-is-dead-capriole-founder/