Fidelity says it is too early to declare Bitcoin bear market over

Fidelity Digital Assets said in a fourth-quarter crypto market outlook report that it remains unclear whether the BTC bear market has ended.

The firm said some investors are watching whether a bear-market bottom will form in November based on the four-year cycle theory, but past patterns do not necessarily repeat. Fidelity added that Bitcoin may already have bottomed in July, or it could set a new low in November or later. Still, the firm said BTC’s more than 25% jump in the span of a week at the end of August, along with expanding on-chain activity, supports the view that the market is nearing a bottom.

Source: Coinness