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Bitcoin ‘no longer cheap’ — Fidelity revises medium-term outlook for BTC

Fidelity Digital Assets maintained its positive short-term outlook for Bitcoin following the first quarter but revised its medium-term outlook based on several metrics.

Fidelity Digital Assets has revised its medium-term outlook for Bitcoin (BTC) from “positive” to “neutral” following the first quarter, citing several metrics that suggest Bitcoin is no longer considered “cheap” amid a potential build up of sell pressure. 

In its latest Signals report released on April 22, Fidelity Digital Assets cited the Bitcoin Yardstick, or Hashrate Yardstick, which works in the same way as the Price-to-earnings ratio is used in stocks, except in this case, it is used to determine if Bitcoin is undervalued. 

Fidelity noted that the Yardstick remained between a negative one and zero deviations from the mean of 51% in the first quarter, meaning there were “zero days on Q1 where Bitcoin was considered 'cheap.'”

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Study: 55% of Americans Believe They Will Lose It All if a Recession Hits the United States

Study: 55% of Americans Believe They Will Lose It All if a Recession Hits the United StatesAccording to a recent study by Clever, a real estate data company, nearly three out of four Americans worry there will be a recession this year, and 69% of the research participants say the U.S. is already in a recession. What’s worse, 55% of the study’s respondents said they would lose everything if a recession […]

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Bloomberg Unveils Crypto Outlook – Highlights Explosive Polygon (MATIC) Adoption, Forecasts Ethereum Will Outperform Bitcoin

Bloomberg Unveils Crypto Outlook – Highlights Explosive Polygon (MATIC) Adoption, Forecasts Ethereum Will Outperform Bitcoin

Bloomberg Intelligence has released its official crypto outlook for the month of February, citing massive mainstream adoption of Polygon (MATIC) and forecasting the future of Ethereum’s performance relative to Bitcoin. The new report covers the rise of Polygon, which is a layer-2 network designed to power crypto projects and scale Ethereum transactions. “Of the entire […]

The post Bloomberg Unveils Crypto Outlook – Highlights Explosive Polygon (MATIC) Adoption, Forecasts Ethereum Will Outperform Bitcoin appeared first on The Daily Hodl.

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World Bank Report Forecasts Bleak Global Economic Outlook, Citing ‘Adverse Developments’ and ‘Long-Lasting Slowdown’

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Bitcoin Price Outlook for October — Strong Dollar and Fed Rate Hike Gives Bears the Advantage

Bitcoin Price Outlook for October — Strong Dollar and Fed Rate Hike Gives Bears the AdvantageTen days into October, and ahead of this Wednesday’s U.S. inflation report, bitcoin prices fell to a one-week low. Prices of the world’s leading crypto asset were mostly in the red during September, trading below $20,000 for the majority of the month. As of writing, bitcoin continues to hover at these lows, with many traders […]

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Bitcoin Price Outlook for July — Traders Remain Concerned About Upcoming Fed Rate Hike and Bankrupt Crypto Firms

Bitcoin Price Outlook for July — Traders Remain Concerned About Upcoming Fed Rate Hike and Bankrupt Crypto FirmsDuring the first week of July, bitcoin prices have risen to their highest level since mid-June, coming as U.S. Non-Farm Payrolls handsomely beat expectations. However, as we head into the remaining weeks of the month, questions still linger on if this momentum can be maintained, despite the current uncertainty in the market. Bitcoin’s Current Market […]

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Bitcoin Price Outlook for June — Market Conditions Show Uncertainty

Bitcoin Price Outlook for June — Market Conditions Show UncertaintyTen days into June, bitcoin continues to trade lower, with prices hovering close to a twelve-month low. Despite this, there continues to be optimism around potential rallies in price over the next few weeks. Overall, there is still a lot of uncertainty in the market, with the potential for either bullish or bearish runs in […]

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Solana Captures Fresh All-Time Highs, SOL Joins the Top Ten Crypto Assets by Market Cap

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Bitcoin Slides Under $30K, Stablecoins Eclipse Trade Volumes, Crypto Interest Depletes

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