Why Bitcoin Could Be Far From $100,000, Says Fidelity Analyst
The bulls are back in control after a brief drop in the price of Bitcoin. The first cryptocurrency by market cap trades north of $57,000 with a 2.5% and 11.1% profit in the daily and weekly charts, respectively. The general sentiment in the markets it’s bullish, as operators and traders expect Bitcoin to fulfill its historical performance. BTC’s price usually tends to trend to the upside as the year comes to an end. Related Reading | Bitcoin Price Prepares To Blast Off Back Into RSI “Bull Zone” Bitcoin is trading less than $10,000 away from its all-time high at $64,870 and it could....
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Fidelity has filed with the U.S. Securities and Exchange Commission (SEC) to launch a bitcoin exchange-traded fund (ETF). The ETF will track the price of bitcoin as measured by the performance of the Fidelity Bitcoin Index. Fidelity Seeks SEC’s Approval Launch a Bitcoin ETF FD Funds Management, a subsidiary of Fidelity, has revealed that it plans to provide financial backing for a bitcoin ETF called the Wise Origin Bitcoin Trust, CNBC reported. On Wednesday, the company filed a Form S-1, a preliminary registration statement for the fund, with the SEC. The filing explains that the....
Fidelity is planning a hiring spree to add ether trading and custody services to its cryptocurrency business. “As the demand for digital assets continues to steadily grow and the marketplace evolves, we will continue to expand our hiring efforts,” a Fidelity executive explained. Fidelity Expanding Crypto Services Fidelity Investments’ digital assets subsidiary, Fidelity Digital Assets, is expanding its services. Founded in 2018, Fidelity Digital Assets currently employs about 200 people. The company is looking to fill 110 new positions to focus on assets beyond....
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 division, shared his bitcoin and ether price analysis in a series of tweets Friday. Timmer specializes in global macro strategy and active asset allocation. He joined Fidelity 27 years ago as a technical....
After reporting on Wednesday that Fidelity users would be able to add Second Market's Bitcoin Investment Trust to their list of securities in their Individual Retirement Accounts [IRA], we here at CryptoCoinsNews must issue a correction. Fidelity has done an apparent 180 in the time that this story has gone viral. On Wednesday, it was first reported on Marketwatch that some Fidelity clients had been allowed to invest in the Bitcoin Investment Trust through their IRAs. However, earlier today, Fidelity's director of public relations Rob Beauregard said specifically in a phone interview: We....
On Monday, Jurrien Timmer, director of global macro at Fidelity, told his 56,000 Twitter followers his perspective on current bitcoin prices. “In my view, it looks like the bottom is in,” the Fidelity executive explained, sharing a BTC/USD chart. Fidelity’s Jurrien Timmer Attempts to Call Bitcoin’s Bottom In mid-April, bitcoin (BTC) 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 has not fallen below the $30K threshold but a number of investors have speculated that it could. There’s been a....