When you reach level 225 and already have Prestige3Prestige 3 you will be able to do your fourth prestige with 1prestige. Prestige 4 comes with some perks and side effects.

300% More coinCoin, 100% More exp., and 85% Off all EnchantingEnchantments, and 3.1% permanent chance of chance of mini boss, x3.5 to all coinCoin donated to ClansClans, x7 dmg in mini boss, 35% more RubyRuby earning

Side effects
You get a full data wipe (Except event tools/Beta pickaxeBeta/Donator toolsetDonator Toolset/Crystalized flare pickaxeCrystalized Flare), you get reset back to Level 1, and you lose all level roles and Prestige3Prestige 3 and gain a Prestige 4 Role.

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