$5 trillion asset manager Fidelity Investments says it expects Bitcoin to reach a new all-time high “before the end of this cycle.” The firm posted an analysis of BTC’s current price trajectory on X (formerly Twitter) on Friday, noting bullish momentum. “Bitcoin’s Acceleration Phase continues after 69 days of low profit and high volatility—strengthening our team’s thesis that bitcoin may see another all-time high before the end of this cycle,” Fidelity said.
From a price phase standpoint, the bullish move of 2024 ultimately began to develop in June 2023 as the first glimpse of the Bottoming Phase appeared, signaling that the high volatility that had persisted since March 2017 was finally subsiding. This change in volatility signaled that bitcoin was potentially entering a new bullish phase, and each subsequent day of low volatility strengthened that thesis. According to Fidelity, that pattern is emerging again as June is around the corner. Thus, a bullish surge could be underway next month that sends Bitcoin above its current ATH of $109,114.88.
Throughout the first few months of the year, cryptocurrencies have catapulted themselves into global finance discourse. The United States has implemented its first pro-crypto regime with the return of President Donald Trump. Moreover, they are expected to implement their very first Bitcoin reserve in their second term in office. Bitcoin is also blowing up in foreign markets, including Asia, the Middle East, and Europe. The mass global adoption of Bitcoin is fueling this rebound that could send BTC to $110,000 this summer.
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Fidelity projects this surge to come before the end of Q2 2025. However, the firm notes that global events can always alter Bitcoin’s course at any moment. A past example of this was the COVID-19 pandemic, which tanked the crypto market massively. A market-shifting event could end the Acceleration Phase prematurely or extend it further than anticipated. Fortunately, this cycle has been uninterrupted so far, so bulls are still in charge.
Over the last 30 days, BTC has jumped more than 22%, according to CoinMarketCap. Moreover, it has recently reclaimed the $104,000 level and is maintaining that position. There is no denying that its strength and value as an investment asset continues to be championed by nations across the globe.
