Fidelity: No Clear End to Bitcoin Bear Market Yet
Fidelity Digital Assets has released its fourth-quarter cryptocurrency market outlook report, and it's not yet clear whether the Bitcoin bear market has ended. According to the report, some investors are focusing on whether the ultimate bottom of the bear market will occur in November, following Bitcoin's four-year market cycle theory.
However, Fidelity emphasizes that there is no guarantee that price movements observed in past cycles will be repeated in the same way in the future. The company also raises the possibility that Bitcoin may have hit its bottom in July or could form a new low in November or at a later date.
The report points to some positive indicators suggesting that the bottom of the Bitcoin market may be approaching, including the 25% price increase observed over just one week at the end of August. Fidelity also notes that continued expansion of on-chain activity is a positive signal for the Bitcoin market.