According to BlockBeats, on January 10, Fidelity's Global Macro Director Jurrien Timmer expressed that Bitcoin's current trend resembles the S-curve of the internet rather than a power-law curve. Many Bitcoin advocates claim that the four-year cycle has concluded and a new structural upward wave is imminent. Timmer is skeptical, not questioning the diminishing impact of the halving cycle, which he agrees with, but doubting the notion that bear markets will no longer occur.
Currently, Bitcoin's baseline is $65,000, which was its previous peak, while the power-law trend line indicates a baseline of $45,000. Although there is still some distance to the target price, if Bitcoin enters a consolidation phase within the next year, the power-law trend line might approach $65,000 and could become a critical threshold for Bitcoin. However, this may or may not happen in the future or within the next year.
