We investigate the long-term behavior of solutions of the difference equation[ x_{n+1}=x_{n}x_{n-3}-1 ,, n=0 ,, 1 ,, ldots ,, ]noindent where the initial conditions $x_{-3} ,, x_{-2} ,, x_{-1} ,, x_{0}$ are real numbers.  In particular, we look at the periodicity and asymptotic periodicity of solutions, as well as the existence of unbounded solutions.