Fidelity analyst predicts new 4-year Bitcoin bull market

Fidelity Investments' director of global macro, Jurrien Timmer, wrote a long X post on Sep. 18 in which he analyzed Bitcoin's recent price movement.

The same day, Bitcoin crossed the $80,000 price mark after almost a year. It prompted Timmer to remark that this is how long a typical Bitcoin winter lasts, and he now senses a new 4-year cycle bull market is underway.

He also shared Bitcoin's power law chart that includes the BTC-gold Z-Score. The score measures how far the current Bitcoin-to-gold ratio deviates from its historical mean.

The score has remained negative for a long period, only to turn positive recently, he underlined, to conclude that the trend has historically marked market bottoms.

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Bitcoin rallies amid twists and turns in Washington circles

Last week, the crypto market faced the failure of the Senate cloture vote on the CLARITY Act and the Federal Reserve's first interest rate hike since 2023.

The Donald Trump administration immediately took several steps to assure the crypto industry of its support.

The SEC introduced its five-year "Innovation Exemption" to create a pathway for qualifying platforms to trade tokenized U.S. stocks onchain. The CFTC issued a no-action position for certain software developers connecting users to regulated crypto exchanges.