Jurien Timmer, Director of Global Macro in Fidelity Investments, Weighs In the bitcoin price, on the pretext that $ 70,000 is the main level of viewing.
“Perhaps this correction will be prepared for the next launch, but at the present time, all eyes are supported at $ 70,000,” said Timer.
According to Timmer, Bitcoin is now returning to the “most accumulated” evaluation level after the last prices dropped.
Its evaluation model is based on the Sneter S-curve and the power curve for the growth of the wallet.
The cryptocurrency is currently changing the hands at $ 83.016 after adding 0.3 % over the past 24 hours.
Earlier, Mike McChelon from Bloomberg predicted that the price of a leading cryptocurrency can slip to the level of $ 70,000, which is weak gold.
Bitcoin has so far decreased by more than 10 % on an annual basis, which greatly weakens the performance of the yellow metal.
Meanwhile, the investment funds circulated in Bitcoin have suffered seven consecutive days of external flows, as it seems that the institutions have been tired of the upper encrypted currency.
However, the whales appear to be on the eruption of the accumulation. Over the past thirty days, the largest market players have been able to accumulate approximately 65000 BTC, according to Cryptoquant data.
