Fidelity Warns Bitcoin Bear Market May Not Be Over Yet Despite $80,000 Surge

Bitcoin's price has surpassed $80,000, marking a significant increase of 4.3% on Friday.

Despite this surge, Fidelity remains cautious and suggests that the bear market may not be over yet.

The financial giant points to several factors that could influence the crypto market's direction, including changes in government monetary policy, more crypto-friendly regulation, and increasing institutional adoption.

Fidelity also notes that Bitcoin's price behavior is consistent with one possible historical pattern: a period of relatively low volatility followed by higher volatility and an upward expansion in price.