{"id":8290,"date":"2021-06-15T17:54:32","date_gmt":"2021-06-15T17:54:32","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/fidelity-executive-believes-bitcoins-price-bottom-is-in-after-last-months-market-carnage\/"},"modified":"2021-06-15T17:54:32","modified_gmt":"2021-06-15T17:54:32","slug":"fidelity-executive-believes-bitcoins-price-bottom-is-in-after-last-months-market-carnage","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/fidelity-executive-believes-bitcoins-price-bottom-is-in-after-last-months-market-carnage\/","title":{"rendered":"Fidelity Executive Believes Bitcoin\u2019s Price \u2018Bottom Is in\u2019 After Last Month\u2019s Market Carnage"},"content":{"rendered":"

On Monday, Jurrien Timmer, director of global macro at Fidelity and co-manager of the Fidelity Global Strategies Fund, told his 56,000 Twitter followers his perspective on the current bitcoin prices. \u201cIn my view, it looks like the bottom is in,\u201d the Fidelity executive explained, sharing a BTC<\/a>\/USD chart. <\/strong><\/p>\n

Fidelity\u2019s Jurrien Timmer Attempts to Call Bitcoin\u2019s Bottom<\/h2>\n

In mid-April, bitcoin (BTC<\/a>) prices touched an all-time high at $64,895 per coin and then plummeted to $30,066 per unit on May 19. The price of BTC<\/a> has not fallen below the $30K threshold but a number of investors have speculated that it could.<\/p>\n

There\u2019s been a few predictions noting that $20K BTC<\/a> prices could be in the cards, while others are still hopeful BTC<\/a> will achieve six-digit values by the end of the year. On Monday the director of global macro at Fidelity, Jurrien Timmer, tweeted that he believes bitcoin\u2019s price has dropped to its lowest point.<\/p>\n<\/p>\n

\u201cIn my view, it looks like the bottom is in,\u201d Timmer tweeted<\/a>. Of course, the post was popular among bitcoiners, having gathered more than 4K likes and close to 700 retweets since Timmer posted. One individual thought Timmer\u2019s opinion was on point and said<\/a>: \u201cAgreed. Bottom is in.\u201d Although, not everyone agreed with Timmer\u2019s chart and analysis. Macro Hedge Fund strategist Kevin Wides sees BTC<\/a> falling as low as $12K.<\/p>\n

\u201cMy log scale graph showing Bitcoin can fall to $12K is an analysis,\u201d Wides responded<\/a> to the Fidelity executive\u2019s tweet. \u201cI really don\u2019t care where it goes as I\u2019m neither long nor short \u2013 I won\u2019t invest in things that cannot be valued by traditional\/sustainable economic metrics,\u201d he added.<\/p>\n

<\/p>\n

Timmer\u2019s Fidelity Insights Report: \u2018Investors May Wish to Consider Bitcoin\u2019<\/h2>\n

Quite a few Fidelity Investments executives are fans of bitcoin (BTC<\/a>) and the digital currency economy. Abigail Johnson, the CEO of Fidelity Investments, has explained<\/a> her fascination with bitcoin for many years now. At a conference in 2017, Johnson told attendees the firm mined bitcoin and employees were allowed to pay for lunch with BTC<\/a> at the headquarters\u2019 cafeteria. Since then the company has introduced its digital asset investment subsidiary and other services dedicated to the growing crypto economy.<\/p>\n

The company\u2019s first bitcoin fund raised $102 million from high-net-worth individuals when it launched last summer. A filing<\/a> shows the Fidelity Digital Funds subsidiary saw 83 investors raise approximately $102,350,437. Jurrien Timmer\u2019s tweet about bitcoin\u2019s possible bottom is also not the first time the Fidelity executive has discussed the subject. In March, Timmer wrote in a Fidelity Insights report<\/a> that bitcoin\u2019s evolution has found its way into the investment portfolio.<\/p>\n

\u201cBitcoin, by design, is a finite asset, with both a unique supply and a unique demand dimension, and as its network increases, bitcoin\u2019s value and durability could increase even faster,\u201d Timmer wrote. \u201cIn my view, some investors may wish to consider bitcoin, alongside other alternatives, as one component of the bond side of a 60\/40 stock\/bond portfolio,\u201d the director of global macro at Fidelity added.<\/p>\n

What do you think about Jurrien Timmer\u2019s prediction that the \u201cbottom is in\u201d as far as bitcoin prices are concerned? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nNews, 60\/40 stock\/bond portfolio, abigail johnson, Bitcoin, Bitcoin (BTC), bitcoin fund, Bitcoin Price Outlook, bitcoin prices, bottom, chart, fidelity, Fidelity Insights report, Fidelity Investments, Jurrien Timmer, Kevin Wides, log scale, Portfolio, price bottom<\/p>\n","protected":false},"excerpt":{"rendered":"

On Monday, Jurrien Timmer, director of global macro at Fidelity and co-manager of the Fidelity Global Strategies Fund, told his 56,000 Twitter followers his perspective on the current bitcoin prices. \u201cIn my view, it looks like the bottom is in,\u201d the Fidelity executive explained, sharing a BTC\/USD chart. Fidelity\u2019s Jurrien Timmer Attempts to Call Bitcoin\u2019s…<\/p>\n","protected":false},"author":0,"featured_media":8291,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8290"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8290"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8290\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8291"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}