Fidelity’s director of global macro is updating his outlook on the equities markets, and says that Bitcoin’s (BTC) network currently “remains on track.” Jurrien Timmer says on the social media platform X that the growth of Bitcoin is primarily driven by its scarcity and central bank monetary policy. With those key drivers in mind, Timmer […]
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Fidelity Investments’ global macro director Jurrien Timmer is updating his outlook on Bitcoin (BTC) following the latest price surge. Timmer tells his 173,000 followers on the social media platform X that Bitcoin could soar beyond $96,210 by 2025 due to two main factors. He lays out a scenario for Bitcoin’s price performance in the coming […]
The post Fidelity Analyst Forecasts Potential Bitcoin Price Target Amid Acceleration of Adoption – Here’s His Outlook appeared first on The Daily Hodl.
Fidelity Investments’ global macro director Jurrien Timmer says that a recession could spark a big rally for Bitcoin (BTC). Timmer tells his 167,000 followers on the social media platform X that current high-interest rates need to decline for Bitcoin to put up big gains. “What will keep driving it? First, the macro narrative needs to […]
The post Bitcoin Could Benefit if an Economic Recession Hits, Says Fidelity Investments Macro Analyst – Here’s Why appeared first on The Daily Hodl.
The traditional finance sector will dip its toes into decentralized finance (DeFi) in the next few months, predicts Ki Young Ju, chief executive of on-chain insights platform CryptoQuant. Young Ju tells his 304,800 Twitter followers that stablecoins are leading the way in terms of institutional adoption. As evidence, he points to U.S. Federal Reserve Chair […]
The post Quant Analyst Says Legacy Financial Institutions Are Eyeing One Ethereum-Dominated Sector – Here’s Why appeared first on The Daily Hodl.
A top executive at financial services giant Fidelity Investments believes that Bitcoin (BTC) is currently a bargain. Fidelity’s director of global macro Jurrien Timmer says that based on the thesis that Bitcoin price will rise as its network grows, the flagship crypto asset is looking “cheap”. “If you believe in Bitcoin’s adoption-curve thesis (i.e. that […]
The post Bitcoin Is Currently Cheap Amid ‘Biggest Oversold Condition in Years’, Says Fidelity Macro Expert – Here’s Why appeared first on The Daily Hodl.
Fidelity’s director of Global Macro has shared his bitcoin and ether price outlook. His analysis shows that bitcoin is cheap but ether could be even cheaper. “Ethereum could be close to a bottom,” he added. Fidelity’s Director on Bitcoin and Ether Price Outlook Jurrien Timmer, director of Global Macro in Fidelity Investments’ global asset allocation […]
Fidelity’s director of global macro is evaluating where Bitcoin (BTC) and Ethereum (ETH) stand after months of price capitulation. Jurrien Timmer tells his 131,200 Twitter followers that Bitcoin is likely undervalued at current prices based on his S-curve model. The model attempts to gauge the value of BTC by predicting the future growth of its […]
The post Ethereum (ETH) Bottom Finally In? Fidelity’s Macro Analyst Says Price of Bitcoin (BTC) Offers a Clue appeared first on The Daily Hodl.
Anthony Pompliano made similar remarks on Monday, noting that Bitcoin’s “value and price are diverging” and that “weak hands are selling to strong hands.”
Jurrien Timmer, Fidelity’s director of global macro, has argued that Bitcoin (BTC) may be “cheaper than it looks”, highlighting evidence on Tuesday that the cryptocurrency may be both undervalued and oversold.
Addressing his 126,000 Twitter followers, Timmer explained that while Bitcoin has fallen back to 2020 levels, its price-to-network ratio has reeled all the way back to 2013 and 2017 levels, which he said may indicate it is undervalued.
Is BTC cheaper than it looks? If we consider a simple “P/E” metric for BTC to be the price/network ratio, then that ratio is back to 2017 and 2013 levels, even though BTC itself is only back to late 2020 levels. Valuation often is more important than price. /THREAD pic.twitter.com/6XMPrtRUzF
— Jurrien Timmer (@TimmerFidelity) June 15, 2022
The price-to-network ratio is a crypto-riff on a popular metric used by traditional stock market investors called the price-to-earnings (P/E) ratio, which is used to determine whether a stock is over or undervalued.
A high ratio could suggest an asset is overvalued, whilst a low ratio could signal an undervalued asset.
Timmer highlighted a chart of Bitcoin’s demand curve overlaid with Bitcoin’s non-zero addresses against its marketcap, noting that the “price is now sitting below the network curve.”
The macro analyst also shared a graph making use of Glassnode’s dormancy flow indicator, which he said suggests “how technically oversold Bitcoin is.”
Entity-adjusted Dormancy Flow is a popular metric for judging Bitcoin value by comparing the price to spending behavior.
According to Glassnode, a low dormancy flow value can suggest increased long-term holder conviction — meaning long-term Bitcoin HODLers are buying up from queasy short-term sellers.
“Glassnode’s dormancy flow indicator is now to levels not seen since 2011.”
Morgan Creek Digital co-founder and Youtuber Anthony Pompliano gave a similar view to Fox Business Monday, explaining that Bitcoin’s “value and price are diverging” and that “weak hands are selling to strong hands.”
“What we’re watching right now is the transfer from weak, short-term oriented people with weak hands into the long-term oriented strong hands.”
Bitcoin’s Fear and Greed Index fell to 7, indicating “Extreme Fear” on Wednesday, falling to its lowest levels since Q3 2019. In the past, low index numbers have often suggested a buying opportunity.
Related: Bitcoin price climbs to $22.5K after Fed 75 basis point hike aims to cap runaway inflation
Fidelity Investments and its analyst Timmer have been bullish on Bitcoin. The investment giant has been working on launching a Bitcoin retirement investment plan, which would allow 401(k) retirement saving account holders to invest in Bitcoin directly. Timmer has been predicting that Bitcoin may soon see a revival.
I joined Fox Business to discuss bitcoin and the macro environment.
— Pomp (@APompliano) June 13, 2022
Value and price are diverging. Weak hands are selling to strong hands. We have been here before.
Thanks @LizClaman for having me. pic.twitter.com/1S6TckUguE
Jurrien Timmer, a macro strategist at financial giant Fidelity, is revising his outlook for Bitcoin (BTC) after the leading cryptocurrency dipped below a key price level. In a thread to his 86,700 Twitter followers, Timmer says that he was surprised to see Bitcoin not hold the line at $40,000 after falling steadily from its November […]
The post Here’s What Will Matter More Than Ever for Bitcoin in 2022, According to Fidelity Macro Strategist appeared first on The Daily Hodl.
Jurrien Timmer, a macro strategist at financial giant Fidelity, says that Bitcoin (BTC) may have found a new level of support that’s 33% higher than previously believed. In a thread to his 80,000 Twitter followers, Timmer says that a little-known metric called “dormancy flow” might be the key to pegging Bitcoin’s bottom at $40,000. “A […]
The post Fidelity Macro Strategist Says Bitcoin Has Drawn a Major Line in the Sand at $40,000 – Here’s What It Means appeared first on The Daily Hodl.
