Recent analysis suggests Bitcoin remains firmly in an upward cycle, despite recent market volatility. Fidelity analyst Zach Wainwright points to historical patterns, drawing parallels with Bitcoin's surge following its break above $20,000 in December 2020. While Bitcoin has experienced an 11.44% correction this year, Wainwright argues this aligns with typical adjustments within previous upward cycles. He highlights that these cycles historically feature an average of two significant surges. The first surge in the current cycle occurred post-US presidential election. Wainwright anticipates a second major surge, potentially propelling Bitcoin to around $110,000. This projection reinforces a bullish outlook for Bitcoin, suggesting current dips are temporary corrections within a larger upward trajectory. Investors should closely monitor market trends and consider risk management strategies. ```

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