Fidelity executives question the "end of the bear market" thesis: Bitcoin's price movement resembles an S-shaped curve seen in the internet sector.
TL;DR
Fidelity's Jurrien Timmer suggests Bitcoin's price follows an S-curve similar to the internet, not a power-law, with a potential consolidation near $65,000. This challenges claims of an ended bear market and imminent upward wave.
Tags
According to Odaily Odaily, Jurrien Timmer, Global Macro Director at Fidelity, stated that Bitcoin's current price movement is closer to the S-curve of the internet than a power-law curve. If Bitcoin enters a consolidation phase within the next year, the power-law trend line may be closer to $65,000, potentially becoming a critical level for Bitcoin. However, this may or may not happen in the future (or even within the next year). Many Bitcoin supporters claim that the four-year cycle has ended and a new structural upward wave is imminent.