Fidelity’s Director of Global Macro – Jurrien Timmer – doubled down on his bullish forecast regarding bitcoin’s future. He predicted that the asset’s price might increase significantly in the following years repeating Apple’s rise to dominance.
Comparing bitcoin to Apple
The notorious volatility in the cryptocurrency market remains an obstacle for many investors to enter the space and gives the critics enough reasons to bash the industry. bitcoin, for one, traded between $30,000 and $69,000 during 2021. However, many of its proponents attribute the enhanced price fluctuations to the fact that it is still in its early days of existence.
In his most recent Twitter thread, Fidelity’s top executive – Jurrien Timmer – opined that the primary cryptocurrency’s demand curve is heading “up and to the right.” He further compared bitcoin’s growth to Apple’s rise to network supremacy.
What matters most is where the demand curve is going, and the answer continues to be “up and to the right.” Below we see that the number of bitcoin addresses (with a value of more than zero) continues to move higher, following a simple power regression curve. /2 pic.twitter.com/L2qplNUNxH
— Jurrien Timmer (@TimmerFidelity) February 17, 2022