Fidelity: Bitcoin price is preparing to enter the next phase of the "acceleration phase"

study by Fidelity Digital Assets shows that the Bitcoin bull market is not over yet, as the "acceleration phase" has not reached its peak. A report from Fidelity Digital Assets questions whether the price of Bitcoin has already experienced a cyclical "peak", or whether Bitcoin is on the edge of another "acceleration phase".

According to Fidelity analyst Zack Wright, the acceleration phase of Bitcoin is characterized by "high volatility and high returns", similar to the price trend of Bitcoin when it broke $20,000 in December 2020. Despite Bitcoin's loss of 11.44% in return so far this year, and the asset falling nearly 25% from its historical high, Wright says that the recent performance after the "acceleration phase" is consistent with the average drawdown of Bitcoin compared to previous market cycles.