Two Signals Revive The Case For A Bitcoin Bull Cycle

According to Jurrien Timmer, global macroeconomics director at Fidelity, the bitcoin bull cycle could restart for four years. His arguments are based on BTC’s resistance above $60,000 and the improvement of its performance against gold.

In brief

The bitcoin bull cycle rests on two signals

Bitcoin rose nearly 6% last Friday and regained the $80,000 level. This increase accompanied the drop of oil below $100, which temporarily eased fears of a new inflation spike.

According to Jurrien Timmer, this scenario occurs after about a year of consolidation above the $60,000 zone. This duration could correspond to a typical bitcoin “winter”.

His analysis mainly relies on the following elements :

• Bitcoin preserved the $60,000 zone for almost a year ;
• This period corresponds to the usual duration of a major bear market ;
• The statistical score comparing bitcoin to gold has become positive again ;
• Previous reversals of this indicator have often accompanied a bottom point.