Fidelity Says Bitcoin Bear Market Is Over, Sees More Upside Than Gold
Fidelity said Bitcoin's bear market has ended.Stocktwits reported on October 11 that Jurrien Timmer, Fidelity's director of global macro, said on a podcast that Bitcoin had emerged from a gradual bear market and that its move above $80,000 confirmed a double bottom.Timmer said he had viewed $60,000 as a buying zone for Bitcoin, though it ultimately fell as low as $58,000. Past Bitcoin bear markets typically lasted nine to 12 months, he added.He also said both Bitcoin and gold are set to rise, but that Bitcoin has greater upside potential.