I'm glad you understood what the OP was saying and what I was trying to explain. If we look at investing only from the perspective of price, then by following the four-year cycle, we can quite well detect when the price will be the lowest in that period. On the other hand, there is another factor when it comes to investing in Bitcoin, and that is the time factor.

Some investors will prefer to wait as long as possible, whether it is the time just before the halving, or the first signs of a bull run after the halving - because the price is obviously less important to them, and their goal is to make as much profit as possible in the shortest possible period. For those who invest a lot of money, this strategy probably pays off, because when the big bull run starts, you can earn 100% or more in a very short period of time.

If you invest say $100 000 or $1 million when the price is say $50 000, that makes a big difference in terms of profit compared to someone who invested at a much lower price, but invested much less money.