PEOPLE

"Fidelity Bank's Global Macro Director Jurrien Timmer analyzes 'The Bitcoin Bottom'"

share
"Fidelity Bank

Fidelity's Global Macro Director, Jurrien Timmer, wrote in a tweet: "To me, it looks like (Bitcoin) has put in a bottom."

Table of Contents

He believes that the price of Bitcoin has already dropped to its lowest point.

Jurrien Timmer holds the bottom view, with many people in the comments agreeing, but many still believe that Bitcoin will fall further.

Macro Hedge Fund strategist Kevin Wides believes that Bitcoin will fall to a low of $12,000. Kevin Wides also mentioned that he does not care about the trend of Bitcoin because he will not invest in "things that cannot be measured by traditional economic indicators."

Fidelity Investments has always been very proactive in Bitcoin investments. As early as the summer of 2020, they raised $102 million to establish a Bitcoin fund. In March of this year, they also submitted a Bitcoin ETF application to the U.S. Securities and Exchange Commission (SEC).

Fidelity Investments CEO Abigail Johnson is also a supporter of Bitcoin. At a conference in 2017, she told attendees that the company uses Bitcoin internally, and employees can pay for lunch at the headquarters cafeteria with Bitcoin. Since then, Fidelity Investments has actively established digital asset investment subsidiaries and continuously developed crypto-economic services.

This article is authorized to be reprinted from Horizon Next Sumari, the original article can be found here.