Bitcoin price gearing up for next leg of ‘acceleration phase’ — Fidelity research

A recent Fidelity Digital Assets report questioned whether Bitcoin price had already seen its cyclical “blow off top” or if BTC (BTC) is on the cusp of another “acceleration phase. ” According to Fidelity analyst Zack Wainwright, Bitcoin’s acceleration phases are characterized by “high volatility and high profit,” similar to the price action seen when BTC pushed above $20,000 in December 2020.   While Bitcoin’s year-to-date return reflects an 11. 44% loss, and the asset is down nearly 25% from its all-time high, Wainwright says the recent post-acceleration phase performance is in line with BTC’s average drawdowns when compared to previous market cycles source: https://cointelegraph.com/news/bitcoin-price-gearing-up-for-next-leg-of-acceleration-phase-fidelity-research?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound