Fidelity executive: BTC is experiencing its fifth wave of price increases; smaller gains and longer durations indicate asset maturity.

Jurrien Timmer, Global Head of Macro at Fidelity, wrote on the X platform that with the current over-speculation in the crypto market subsiding and market sentiment improving, Bitcoin's ending in 2025 is actually quite promising, especially given the backdrop of the Federal Reserve's accommodative policy and a calm bond and foreign exchange market. Previously, Bitcoin treasury companies offered "yields" by issuing shares to purchase Bitcoin, which may now be a drag on Bitcoin's rise, raising questions about whether another four-year cycle has ended. However, observing the mature network curve structure of Bitcoin reveals that since 2010, Bitcoin has experienced five waves of upward movement, each with a smaller increase but a longer duration. Its performance in the most recent bull market (starting at approximately $16,000 in 2022) demonstrates that Bitcoin has matured considerably. According to the five-wave upward trend chart shared by Jurrien Timmer, the peak price of Bitcoin in the fifth wave may be $151,360.