Until the halving changes which wont happen the 4 year cycle will continue along a
sort of defined pattern of bull to bear and back again as a consequence of - the halving.
I know this is a popular opinion and it
seems that the last 12 years could "confirm" that pattern, but I disagree.
Miners are almost insignificant as Bitcoin sellers now. There are 144 blocks per day with 3.125 Bitcoins each (164k per year). The next halving, we will have 1.5625 (85k per year). More than 20 million Bitcoins have already been mined.
This means, the Bitcoin supply inflation will go from about 0.7% to about 0.35% per year. That meager 0.35% will be the only consequence of the next halving (and even during halving periods), The 2032 halving will reduce the supply inflation only by 0.17 percentage points, the next one by 0.08 and so on.
Things were different in 2012, when the halving, just after the first 10 million BTC had been mined, reduced the supply inflation from 26% to 13% per year. This had a notable effect on supply and thus the first having's effect as a "booster" of the 2013 bull markets was probably very important.
In 2016 I can also still accept that there was maybe an effect on the 2017 bull market, as back then the supply inflation decreased from about 8% per year to 4% per year, which also is still significant. I guess however the 2017 bull market had primarily other causes, mostly real adoption, the approval of the first Bitcoin derivatives, and also the appearance of Ethereum and the ICO craze which flooded the crypto market with non-techie retailers, affecting Bitcoin too.
But in 2020 the reduction on supply inflation was already very small: from about 3.5% to 1.75%, or some 1.75 percentage points.