Fidelity Global Macro Director: Skeptical about the "end of the four-year cycle" theory for Bitcoin, $65,000 will be the trend bottom

Fidelity's Global Macro Director Jurrien Timmer stated that Bitcoin's current trend is more akin to the S-curve of the internet 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 about this, not because I doubt the diminishing impact of the halving cycle (which I agree with), but because I question the assertion that bear markets will no longer occur.

Currently, Bitcoin's bottom line is $65,000 (the previous high), while the power law trend line indicates a bottom line 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 come closer to $65,000 and could become Bitcoin's line of life and death. However, this may (or may not) be something that happens in the future (or within the next year).