I think— “The cycle hasn't disappeared, it's just grown.” What used to be a four-year cycle, now might take eight or even ten years; that's what @cz_binance called a supercycle. In the past, there were wild booms and busts; now it might be a long, steep climb. In the past, it was driven by faith; now it's driven by capital structure. But what's hardest to change, is never the market structure, but human nature. We're still repeating the same pattern: overestimating ourselves when prices rise, and doubting the world when prices fall. Saylor said, “Winter won't come again.” I'm not sure. Maybe winter really won't be so cold anymore, but human nature will still freeze between greed and fear. Finally, I want to say— The four-year cycle may be dead, but the cycle itself is definitely not dead! Because the “cycle of human nature” has never stopped. Every market surge, reminds us: What seems like a grand cycle, is actually just the pulse of the collective mindset. True maturity isn't about predicting the next round, but understanding which round we're in.