Fidelity Global Macro Director: Skeptical of Bitcoin's 'Four-Year Cycle End' Theory, $65,000 Will Be the Trend Low

BlockBeats News, January 10th, Fidelity's Global Macro Director Jurrien Timmer published a post stating that Bitcoin's current trend is closer to the Internet's S-curve rather than a power-law curve. Many Bitcoin supporters claim that the four-year cycle has ended, and a new structural uptrend is about to begin. "I am skeptical of this, not questioning that the impact of the halving cycle is diminishing (which I agree with), but rather skeptical of the notion that bear markets will no longer occur." Currently, Bitcoin's floor is $65,000 (the previous high), while the power-law trend line indicates a floor of $45,000.

Although there is still some distance to the target price, if Bitcoin enters a consolidation phase within the next year, the power-law trend line may move closer to $65,000 and could become Bitcoin's make-or-break level. However, this may (or may not) be something that will happen in the future (or in the coming year).