After years of predictable cycles, Bitcoin may finally be changing its rhythm.
That was the message from Beau Turner, CEO of Abundant Mines, during an interview with TheStreet Roundtable's Alp Gasimov.
Bitcoin has surged more than tenfold since its late 2022 lows, but Turner says the move still does not qualify as a full bull market. He believes this cycle is no longer dictated by the traditional halving events that once defined Bitcoin's price action.
Related: Explained: What is sustainable Bitcoin mining?
"At this stage in the network's maturity, macro forces matter much more than the issuance schedule," Turner said. "The halving used to create massive supply shocks, but those shocks are shrinking every four years."
In earlier cycles, halving events cut new Bitcoin supply dramatically, sparking fresh demand and explosive price rallies.
Abundant Mines is a U.S.-based Bitcoin mining firm that lets investors earn BTC without managing the technical side of operations. Based in Oregon, it offers turnkey mining services powered by low-cost, hydroelectric energy and promises 95–99% uptime.
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Bitcoin's historic four-year cycle
Bitcoin's price has traditionally followed a four-year rhythm tied to its halving events, when block rewards to miners are cut in half, reducing new BTC supply.
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2012 Halving:Block reward dropped from 50 BTC to 25 BTC. Bitcoin traded near $12at the time and peaked around $1,150a year later.
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2016 Halving:Reward reduced to 12.5 BTC. BTC was roughly $650at halving and soared to nearly $20,000by December 2017.
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2020 Halving:Reward fell to 6.25 BTC. Bitcoin traded near $8,590and later reached an all-time high of $68,000in 2021.
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2024 Halving:The latest cut to 3.125 BTCcame with Bitcoin at about $63,000— but so far.
Bitcoin slips below $104K but remains up 25% year-on-year
Bitcoin (BTC) traded at $103,363 on Nov. 11, down 1.9% in the past 24 hours as traders locked in profits following last week's rebound.
Despite the pullback, BTC remains up around 25% over the past year, reflecting sustained investor confidence amid high volatility.
The world's largest cryptocurrency now commands a 57.6% dominance of the total crypto market, which stands at $3.58 trillion, according to CoinGecko data.
Bitcoin has traded between $103,240 and $107,357 in the past 24 hours and remains roughly 18% below its all-time high of $126,080 set in early October.
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'This time could be different': Turner
But today, with issuance reductions growing smaller and global liquidity playing a larger role, Turner believes the market is becoming untethered from that pattern.
"People keep expecting the same three-up, one-down pattern," he added. "But once everyone sees a pattern, it tends to change. This time could be different."
Some investors call this the Bitcoin super cycle , a stage where the asset no longer follows old rules. Instead, it moves with interest rates, liquidity flows and investor confidence, much like a traditional global asset.
Turner's takeaway is that the next phase of Bitcoin growth may not be driven by halvings at all , but by how the asset fits into the broader financial system.
Related: Explained: Types of Bitcoin mining
This story was originally reported by TheStreet on Nov 11, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
