Latest News

According to a Fidelity executive, Bitcoin is forming a bullish double-bottom pattern

Fidelity Investments’ director of global macro, Jurrien Timmer, has noticed a double-bottom Bitcoin pattern.

According to Timmer, the same is true for Bitcoin-linked shares, which typically move in lockstep with the leading cryptocurrency.

A bearish-to-bullish reversal, signaling the start of a future rally, is frequently indicated by a double bottom pattern.

For the first time since February 10, the crypto king came close to breaking through the $45,000 barrier.

Bitcoin is already up about 30% in the last week, following a stunning recovery from a low of $34,391. The world’s most popular cryptocurrency is still down 35.97% from its all-time high.

Timmer compared Bitcoin’s ascent to that of tech titan Apple last month.

The Fidelity executive predicted that the Bitcoin price will finally rise to $100,000 in October.
Related Posts – Bank DBS’s Crypto Business Grows Massively Due To Growing Demand From Investors

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.