Fidelity's Global Macro Director Jurrien Timmer stated that Bitcoin's price development resembles the internet's S-curve rather than a power-law curve. He acknowledged the diminishing influence of Bitcoin's four-year halving cycle but remains doubtful that bear markets will disappear entirely. Bitcoin's current baseline price is around $65,000, while the power-law trend suggests a baseline near $45,000, with a potential convergence around $65,000 if consolidation occurs within a year.

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