In the wake of Bitcoin halving events, the blockchain ecosystem often experiences increased public interest and scrutiny. This article by Ken Alabi reflects on lessons from previous cycles, highlighting the economic principles that drive market dynamics. While the 2012 cycle emphasized borderless payments and the potential of Bitcoin, subsequent cycles revealed challenges like ICO collapses, DeFi fragility, and the fizzling of P2E games. The current 2024 cycle has begun with the integration of Bitcoin ETFs into traditional finance, suggesting a promising shift in regulatory attitudes and acceptance of blockchain technology. Key trends to watch include the tokenization of real-world assets, the merging of AI with blockchain for enhanced privacy, and the viability of microtransactions. The rise of stablecoins offers a bridge between traditional finance and blockchain, enhancing their role in payment systems. Overall, this cycle presents a significant opportunity for blockchain to achieve lasting impact with increasing institutional interest and regulatory clarity, possibly transforming the technological landscape.

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