Fidelity Analyst: Crypto Bear Market Bottom May Have Formed, Expecting a New Round of Expansion

PANews February 15 News, according to Bitcoin.com, Fidelity Global Macro Director Jurrien Timmer stated on the X platform that Bitcoin recently dropped to $60,000, reaching the support area predicted months ago. The bear market bottom may have been formed, and a new round of expansion could begin. He pointed out that the dip to $60,000 is relatively shallow, and as Bitcoin matures, volatility will gradually decrease. It is expected that after several months of consolidation, a new cycle bull market will start, potentially reaching new highs.
Timmer’s attached chart analysis indicates that Bitcoin’s price is correlated with global money supply, with $60,000 serving as a technical support level. Another chart titled “The Path to Bitcoin Maturity” depicts its historical waves: from early $2 and $24 to breaking through the $64,000 high, and points to a forecasted sixth wave region at $290,425. This model integrates curves and macro variables to outline a long-term framework moving toward $1 million. He emphasizes that if cycle patterns and trend continuation are adopted, Bitcoin is expected to move along a structured maturation path after consolidating around $60,000.