Summary
- Fidelity said Bitcoin's bear market has ended, and that a move above $80,000 confirmed the formation of a double bottom.
- Timmer said he had seen $60,000 in Bitcoin as a buying zone, but it ultimately fell to $58,000.
- Timmer added that both Bitcoin and gold are likely to rise, but that Bitcoin has greater upside potential.
Forecast Trend Report by Period
Fidelity said Bitcoin's bear market has ended.
Stocktwits reported on October 11 that Jurrien Timmer, Fidelity's director of global macro, said on a podcast that Bitcoin had emerged from a gradual bear market and that its move above $80,000 confirmed a double bottom.
Timmer said he had viewed $60,000 as a buying zone for Bitcoin, though it ultimately fell as low as $58,000. Past Bitcoin bear markets typically lasted nine to 12 months, he added.
He also said both Bitcoin and gold are set to rise, but that Bitcoin has greater upside potential.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.