Fidelity Cautious: No Definitive End to Bitcoin Bear Market Yet

Fidelity Digital Assets' fourth-quarter cryptocurrency market outlook report suggests that it's still unclear whether the Bitcoin bear market has ended. According to Fidelity, despite a recent recovery, more data is needed to confirm whether the market has formed a new bottom.

The company noted that some investors are focusing on whether the ultimate bottom of the bear market will occur in November, in line with Bitcoin's four-year market cycle theory. However, Fidelity emphasized that there is no guarantee that past price movements will repeat themselves.

Fidelity also pointed to positive indicators suggesting that the bottom of the Bitcoin market may be approaching. The company noted that a 25% price increase in just one week at the end of August was a significant development indicating a strong market recovery. Additionally, continued expansion of on-chain activity is seen as a positive signal for the Bitcoin market.

However, Fidelity maintains that it's still too early to definitively declare the bear market over. The company stated that it's possible for BTC to form a new low in November or at a later date.