BlockBeats news: On January 10, Fidelity's global macro strategist Jurrien Timmer posted that Bitcoin's current trajectory is more akin to an S-curve of the internet than a power-law curve. Many Bitcoin supporters claim that the four-year cycle has ended and a new wave of structural price increases is about to begin.I am skeptical, not because I question that the impact of the halving cycle is diminishing (which I do agree with), but because I question the claim that bear markets will no longer occur.Currently, Bitcoin's support level is at $65,000 (a previous high), while a power-law trendline indicates a support level of $45,000.
Although there is still a distance to the target price, if Bitcoin enters a consolidation phase in the coming year, the power-law trendline might approach $65,000 and could potentially become a make-or-break level for Bitcoin. However, this may (or may not) happen in the future (or within the next year).