Fidelity Executive Jurrien Timmer Suggests No More Dips on BTC, Crypto Market Exits Extreme Fear
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Fidelity Executive Jurrien Timmer Suggests No More Dips on BTC, Crypto Market Exits Extreme Fear

June 15, 2021      Sahaj Sharma

Fidelity Executive Jurrien Timmer has recently suggested that there is no more room for dips on the BTC/USD as Bitcoin has already hit its price bottom. As revealed by one of the top executives of the industry, the price of Bitcoin will remain above the level of $40,000.

Jurrien Timmer of Fidelity Executive Says No More Dips on BTC/USD

The director of Global Macro at the United States multinational financial services corporation Fidelity Investments, Jurrien Timmer revealed in a tweet on Monday that there won’t be any further dips on Bitcoin.

After battling the $40,000 resistance level, BTC/USD maintained higher levels overnight on Monday regardless of the fact that they were not able to touch the predicted mark of $47K.

Following the likes of advocates like Paul Tudor Jones and Elon Musk, a positive mood was witnessed in the market.

Timer told that the time has come to look upwards and not downwards when it comes to predicting the next move of Bitcoin. He summarized:

“In my view, it looks like the bottom is in.”

Fear and Greed Index Trenches the Emotion of the Traders

As witnessed in recent times, the multinational financial services corporation, Fidelity has increased its Bitcoin activities as it has recently released a dedicated analytics platform and even applying to the introduction of an ETF.

A classic sentiment gauge the Crypto Fear & Greed Index is adding to the bullish mood of the traders as the index is marching towards the neutral territory after bouncing back to the level of 38/100 from its lows.

Talking further about the working of the index, it utilizes a bucket of sentiment measures for determining whether the traders are overly bullish or bearish at a specific price. After that, it figures out whether the tokens are oversold or contrarily due for a sell-off.

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#BTC/USD #Crypto #Fidelity #Jurrien Timmer
Sahaj Sharma
Sahaj Sharma

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.