Vineet Budki, CEO of Sigma Capital, insists that Bitcoin’s well-known 4-year cycle remains alive and expects the cryptocurrency to experience a significant correction of up to 70% during the next market downturn. Speaking at the Global Blockchain Congress 2025 in Dubai, Budki pointed out that many traders lack a proper understanding of Bitcoin’s intrinsic economic properties, which he believes will trigger heavy selling pressure as soon as negative signals arise. Budki explained, “Bitcoin will not lose its utility even if its price drops to $70,000. The challenge is that many people don’t recognize its true utility. When investors hold assets they don’t fully understand, they tend to sell them first during downturns, causing sharp price declines.” Despite forecasts of a steep retracement, Budki remains bullish long-term, predicting Bitcoin could surpass $1 million a coin within the next decade as adoption expands through both speculative interest and real-world use cases. The debate about whether Bitcoin’s historical 4-year halving cycles still drive price movements has intensified. Some analysts, like BitMEX co-founder Arthur Hayes, argue that macroeconomic forces such as interest rates and money supply growth now play a bigger role than cyclical patterns. Conversely, others, including crypto bank Xapo Bank CEO Seamus Rocca, maintain the 4-year cycle endures, noting that investors continue to treat Bitcoin as a risk-on asset driven by market sentiment. With institutional holders collectively owning nearly 20% of Bitcoin’s supply, the ecosystem is more complex than ever. Yet Budki’s view underscores the persistent psychological patterns shaping Bitcoin’s boom and bust phases, suggesting that while a sizable correction is likely, the cyclical heartbeat of Bitcoin is far from dead.
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