# CZonTBPNInterview

IT IS TOO EARLY TO CALL A BITCOIN BOTTOM
If you’ve been around long enough, this part of the cycle feels familiar. The structure hasn’t changed much. Bitcoin still moves in these broad four-year waves, and halvings sit right at the center of it. Every time the block reward gets cut, new supply slows down. That part is mechanical. What follows is behavioral.
Looking at the Arkham, I see the same rhythm repeat: accumulation after a crash, a steady run into the halving, a stronger push after it, and then the unwind.
Not immediately
But eventually
The halving reduces issuance, surebut what really