Grayscale Research Predicts 2026 Bitcoin Highs, Challenges Four-Year Cycle Thesis

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Grayscale Research has forecast that Bitcoin could achieve new all-time highs in 2026, countering fears of a prolonged bear market.

In a Monday report, the firm argued against the rigid “four-year cycle” narrative that ties BTC’s price peaks to its halving schedule. Analysts stated that while the outlook is uncertain, they believe this cycle thesis will be proven incorrect.

Bitcoin has seen significant volatility, falling 32% from its October peak before recovering to $86,909 early Tuesday.

Grayscale acknowledged that such drawdowns of 25% or more are common in bull markets and do not inherently mark the start of a multi-year downtrend. The firm emphasized that long-term investors, while rewarded, must endure these challenging periods.