Market News

Bitcoin's Future: Fidelity's Macro Chief Predicts Bull Market Ahead

Fidelity’s director of global macro, Jurrien Timmer, recently discussed the potential for Bitcoin's next bull market.

He believes that Bitcoin's drop to around $60,000 may have established a new support level, marking the end of its previous cycle.

Timmer noted that this decline was relatively shallow compared to historical downturns in the Bitcoin market.

He conveyed optimism, suggesting that after a period of volatility, a new cyclical bull market could commence.

Timmer's analysis is informed by previous cycles, which he believes suggest that future waves could lead Bitcoin to new highs.

He also shared insights on the relationship between Bitcoin's price and global liquidity, which currently stands at approximately $118 trillion.

Timmer illustrated this further using charts, showing past price peaks and future projections for Bitcoin's growth.

His predictions indicate that Bitcoin could mature alongside increasing adoption and market stability, potentially reaching prices upwards of $290,425 in the coming years.

However, he clarified that these forecasts are not guarantees, but rather a framework based on historical trends.

The overall sentiment from Fidelity highlights the evolving nature of Bitcoin within the financial landscape.