Fidelity executives question the "end of the bear market" thesis: Bitcoin's price movement resembles an S-shaped curve seen in the internet sector.

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.