Fidelity predicts long-term Bitcoin rally based on wave model

Fidelity has projected a long-term rally for Bitcoin (BTC), based on its developmental wave model. According to a report from the asset manager, an analysis of the model indicates that BTC has entered the mature stage of its fifth upward wave. This cycle, which began from a low of $16,603 in 2022, could potentially extend to approximately $151,360. The report notes that while the magnitude of price increases diminishes with each successive wave, the duration of each cycle lengthens. In the short term, Fidelity anticipates a year-end rally amid a monetary easing environment and expects Bitcoin to enter its sixth wave early next year.