# Fidelity Executive Skeptical About "Bitcoin Four-Year Cycle Ended" Claims

Golden Finance reports that Jurrien Timmer, Global Macro Director at Fidelity, has written that Bitcoin's current trajectory is closer to the S-curve of the internet rather than a power law curve. Many Bitcoin supporters claim that the four-year cycle has ended and a new structural uptrend wave is coming. "I am skeptical about this, not questioning whether the impact of the halving cycle is weakening (I agree on this point), but questioning the claim that bear markets will no longer occur." Currently, Bitcoin's support level is $65,000 (the previous all-time high), while the power law trend line shows a support level of $45,000. Although there is still some distance to the target price level, if Bitcoin enters a consolidation phase within the next year, the power law trend line may move closer to $65,000 and could potentially become a critical support level for Bitcoin. However, this may (or may not) be something that happens in the future (or within the next year).