Bitcoin’s diminishing cycle returns stir speculation ahead of halving 
Quick Take
As we stand less than 28,000 blocks away from Bitcoin’s next halving, scheduled for April 21, 2024, the spotlight sharpens on the peculiarities of Bitcoin’s subsidy epochs.
A subsidy epoch refers to each epoch, or the period between halvings, exhibiting a unique pattern in market behavior. The contemporary epoch, Epoch 4, offers a block reward of 6.25 Bitcoin. However, a closer examination reveals an interesting trendโdiminishing returns.
Although Bitcoin has ascended by roughly 180% since the start of this epoch on May 30, 2020, the returns pale in comparison to the same stage in previous epochs. Epoch 3 boasted an impressive 1,000% return, while Epoch 2 outshone with a 3,394% spike.
These emerging patterns bolster the theory of extended cycles in Bitcoin’s price trajectory. As we inch closer to the forthcoming halving, the repercussions on investors and the crypto market at large remain uncertain.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
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