A recent report from Fidelity Digital Assets raises questions about Bitcoin's current phase of development and price prospects.
Bitcoin's Acceleration Phase: Analyst's View
According to the report, Fidelity analyst Zack Wainwright states that Bitcoin remains in an acceleration phase, characterized by high volatility and high profit. While Bitcoin has posted a year-to-date loss of 11.44% and is down 25% from its high, this aligns with the average drawdowns from previous cycles.
Role of Institutional Investments
Despite the current economic conditions and their impact on Bitcoin prices, major companies continue to increase their BTC stockpiles. Strategy CEO Michael Saylor and plans from MARA and Metaplanet demonstrate the interest of large corporations in accumulating Bitcoin as a reserve asset.
Bitcoin's Future: Predictions and Expectations
The outlook for Bitcoin's future price growth remains positive. Wainwright notes that it's important to monitor the number of days when Bitcoin hits new all-time highs during a rolling 60-day period.
Institutional investments will continue to play a key role in shaping Bitcoin's market dynamics, and further research data will aid in predicting its future course.
