In the recent report from Fidelity Digital Assets, it was asked if the Bitcoin price has already seen its cyclical “release” or BTC (BTC) is on the border of the next “acceleration phase”.
According to Fidelita’s analyst, Zack Wainwright, Bitcoin acceleration phase is characterized by “high variability and high profit”, as is the apparent price, when BTC exceeded over USD 20,000 in December 2020.
While the annual Bitcoin refund reflects the loss of 11.44%, and the resource dropped by almost 25% compared to the highest level, Wainwright says Recent phase efficiency after acceleration is in line with the average BTC payments compared to previous market cycles.
Bitcoin Historical defect after the acceleration phases. Source: Fidelity Digital Assets research
Wainwright suggests that Bitcoin is still in the acceleration phase, but is approaching the end of the cycle, because on March 3 he represented the 232 day of the period. The previous peaks lasted a little longer before determining the recovery period.
“The acceleration phase from 2010 – 2011, 2015 and 2017 reached its peaks 244, 261, 280, respectively, which suggests a slightly more pulled phase of each cycle.”
Related: Mara Holdings is planning huge offers of shares worth USD 2 billion for the purchase of more bitcoins
Is another parabolic rally on Bitcoin cards?
The price of Bitcoins has been below 100,000 USD from February 21, and a huge part of the momentum and positive sentiments that include “Trump trade”, dispersed and has been replaced by variability caused by the tariff and fear of markets that the US can go to recession.
Despite these hanging factors and the negative impact they have had on daily Bitcoin prices, huge entities continue to raise their BTC supplies.
On March 31, the general director of the strategy, Michael Saylor, announced that the company purchased 22 048 BTC (USD 1.92 billion) at an average price of USD 86,969 for Bitcoin. On the same day, Bitcoin Miner Mara revealed sales plans for up to $ 2 billion to get more BTC “from time to time”.
In the footsteps of companies with greater capitalization, the Japanese company Metaplanet spent 2 billion yen ($ 13.3 million) in bonds on March 31 to buy more bitcoins, and the largest news from the march came from Gamestop, announcing an offer of banknotes worth $ 1.3 billion, from which some can be used to buy bitcoins.
Recent purchases and statements about the intention to buy from various international and American listed companies listed on the stock exchange show the Cente-Anostic approach to collecting BTC as reserve assets, and emphasizes positive exceptions in the future among institutional investors.
Although it is hard to determine the impact of purchases of institutional investors on the price of BTC, Wainwright said that the record at which the eye should be to have the number of days during the 60-day period in which the cryptocurrency will reach a recent level of all time. Wainwright published the following table and said:
“Bitcoin usually experienced two main increases in previous phases of acceleration, with the first example of this cycle after the election. If the horizon has a new highest level of all time, he will have an initial base of nearly USD 110,000.”
Number of all time Bitcoin (60 days). Source: Fidelity Digital Assets research
This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
