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Bitcoin’s cycle returns have been declining with every major cycle:
2015–2017 → 130x
2018–2021 → 21.9x
2022–2025 → 8.2x
If the 2026 cycle bottom is around $57,800, a 3–4x move would put $BTC between $173K and $231K
A 3.5x move = ~$202K.
Diminishing returns may be real, but the next cycle could still take Bitcoin into the $200K + range.
Will history repeat, or will #Bitcoin break the cycle ?
but until not big movement the market .