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Fidelity Executive Believes Bitcoin Price Is ‘Down’ After Last Month’s Market Carnage – Bitcoin News


On Monday, Jurian Timmer, director of global macros at Fidelity and co-manager of the Fidelity Global Strategies Fund, told his 56,000 Twitter followers his outlook on the current bitcoin price. “In my view, it looks like that’s down,” the Fidelity executive explained, sharing B T c/ USD chart.

Fidelity’s Jurian Timmer Tries to Call Bitcoin Bottom

In mid-April, bitcoin (B T c) prices reached an all-time high of $64,895 per coin and then dropped to $30,066 per unit on May 19. price of B T c Hasn’t dropped below the $30K threshold, but many investors have speculated that it may.

Some forecasts suggest $20K B T c Prices may be in the cards, while others are still hopeful B T c By the end of the year will achieve a value of six digits. On Monday, Jurian Timmer, director of global macros at Fidelity, tweeted that he believes the bitcoin price has fallen to its all-time low.

“In my view, it seems that’s down,” Timmer tweeted. Admittedly, the post was popular among bitcoiners, garnering over 4K likes and nearly 700 retweets since Timer was posted. One person thought Timer’s opinion was on point and said: “Suppose. Down.” However, not everyone agreed with Timmer’s charts and analysis. Macro hedge fund strategist Kevin Wides watches B T c Falling as low as $12K.

“My Log Scale Graph Showing Bitcoin Could Drop to $12K Is an Analysis,” Wides reacted For the tweet from the Fidelity executive. “I don’t really care where it goes because I’m neither tall nor short – I won’t invest in things that can’t be valued by traditional/sustainable economic metrics,” he said. They said.

Timer’s Fidelity Insights report: ‘Investors may want to consider bitcoin’

Quite a few Fidelity Investment executives are bitcoin fans (B T c) and the digital currency economy. Abigail Johnson, CEO of Fidelity Investments Explained His fascination with bitcoin has been around for several years now. At a conference in 2017, Johnson told attendees that the firm mined bitcoin and allowed employees to pay for lunch. B T c in the headquarters cafeteria. The company has since introduced its digital asset investment subsidiary and other services dedicated to the growing crypto economy.

The company’s first bitcoin fund raised $102 million from high-net-worth individuals when it launched last summer. a filing Shows that a subsidiary of the Fidelity Digital Fund raised approximately $102,350,437 from 83 investors. Jurien Timmer’s tweet about a possible bottom for bitcoin is also not the first time a Fidelity executive has discussed the topic. In March, Timer launched a . was written in Fidelity Insights Report That the development of bitcoin has found its way into investment portfolios.

“Bitcoin is, by design, a finite asset with both a unique supply and a unique demand dimension, and as its network grows, the value and durability of bitcoin can grow even more rapidly,” Timmer wrote. “In my view, some investors may want to consider bitcoin, among other options, as a component of the bond side of a 60/40 stock/bond portfolio,” said Director of Global Macro at Fidelity.

As far as bitcoin prices are concerned, what do you think of Jurian Timmer’s prediction that it is “down there”? Let us know what you think about this topic in the comment section below.

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image credit: Shutterstock, Pixabay, WikiCommons, Twitter, Jurian Timmer,

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