Jurrien Timmer, director of global macro at Fidelity Investments, said Bitcoin has started moving higher after spending nearly a year consolidating around the $60,000 support zone. He said that stretch is comparable to a typical Bitcoin winter, leading him to conclude that a new four-year bull market may already be underway.
Timmer also said the BTC/gold Z-score has moved from -100% back into positive territory, a signal that has historically confirmed a bottom. In the same remarks, he added that markets are now operating in a longer-term regime marked by a higher cost of capital, and that governments may respond through financial repression.
According to ChainCatcher, Jurrien Timmer, director of global macro at Fidelity Investments, said Bitcoin has begun moving higher after consolidating for nearly a year around the $60,000 support area.
He said that period was comparable to a typical Bitcoin winter, and on that basis argued that a new four-year bull cycle may already have started. Timmer also said the BTC/gold Z-score has shifted from -100% to positive territory, a signal that has historically confirmed a bottom.
He added that the market is now in a longer-term regime with a higher cost of capital, and that governments may respond with financial repression.
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