As more evaluations suggest that the cryptocurrency bear market might have found its lowest point, a significant insight has emerged from experts at Fidelity Investments.
Jurrien Timmer, who serves as the Global Macro Director at Fidelity, noted that Bitcoin’s recent decline to approximately $60,000—an important support level he had forecasted earlier—could indicate the formation of a bottom in this bearish phase.
In his commentary shared on the social media platform X, Timmer emphasized that Bitcoin’s drop encountered a crucial technical support zone. This development may mark the start of a fresh growth cycle. He explained that as Bitcoin evolves over time, its price fluctuations tend to diminish gradually. This reduction in volatility could set the stage for a more stable and sustainable upward trend. After several months of price consolidation, it is anticipated that Bitcoin might initiate another bullish run and potentially approach previous all-time highs once again.
Timmer’s graphical analysis revealed an intriguing link between Bitcoin’s price movements and changes in global money supply. The $60,000 mark emerges as an essential pivot point from both macroeconomic and technical viewpoints. According to him, this area could serve as a robust base supporting long-term market stability.
Another chart titled “Bitcoin’s Path to Maturity” explores historical wave patterns within the asset’s journey—from early peaks around $2 and $24 up through surpassing $64,000—highlighting projections for future waves reaching approximately $290,425. Incorporating macroeconomic factors alongside adoption trends into his long-term model suggests that Bitcoin’s maturation trajectory could eventually push its value toward one million dollars.
The analyst believes if current cyclical behaviors persist alongside increasing global acceptance of cryptocurrencies, Bitcoin is likely to enter a phase characterized by orderly structural growth following its stabilization near $60K. Such conditions may signal an upcoming era of expansion within the digital asset market.
This content does not constitute financial advice.