Bitcoin may be rallying but that doesn’t mean the bear market is over. Not yet, anyway. 

A new report from asset manager Fidelity said that while bitcoin was behaving like it did in previous cycles, it could still hit a bottom in November. 

Bitcoin started rallying in mid-August after the U.S. Treasury Department said it would more than double the size of its government debt repurchases. The asset’s price recently stood at close to $81,639, up nearly 30% over a 30-day period. 

Some have since argued that bitcoin is out of its bear market. The coin touched a record high in October last year, hitting $126,080. 

“Given bitcoin’s recent performance, the bottom…

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