The 4-Year Halving Cadence: Bitcoin's mining reward cuts in half every 210,000 blocks (roughly every 1,460 days or 4 years). Historical cycles (2012, 2016, 2020) demonstrated characteristic multi-phase behavior: post-halving reaccumulation, parabolic expansion typically peaking 12 to 18 months post-halving, followed by an 80%+ drawdown bear market.

The Terpin $120k Thesis: Crypto investor Michael Terpin posits that Bitcoin will breach $120,000 before the 2028 halving (projecting target achievement by Q4 2027), noting that historical cycle pacing rarely extends beyond 20–24 months without challenging prior all-time highs and that the elongated institutional consolidation represents structural runway rather than cycle termination.

Diminishing Returns: As Bitcoin's aggregate market capitalization expands past $1.5 trillion, the absolute capital inflows required for 10x-100x multiples increase exponentially. This simulator enables analysts and investors to contrast aggressive early-cycle multiples against conservative S-curve adoption corridors.