Fidelity: Bitcoin may be in accumulation

According to Jurrien Timmer, Global Macro Manager, Fidelity Investment, Bitcoin may have reached a critical psychological and mathematical base. In his view, bitcoin might be in an accumulation zone, with current prices close to its supporting line of $60,000. The recent return on investments in Fidelity shows that alternative assets face extreme underperformance, while bitcoin, spot gold and long-term national debt are at the absolute bottom. Historically, when the price reaches the top of the corridor, the chart is marked as a “distribution area”. Conversely, when prices are condensed to the bottom of the corridor, there is usually a major buy-in opportunity. The current trade price of bitcoin is $63,957, only one step away from its long-term support line of $56,488。