Bitcoin Forms Double Bottom Bullish Pattern, Says Fidelity Exec


Alex Dovbnya

Jurrien Timmer of Fidelity Has Spotted a Bullish Bitcoin Pattern That Could End the Downtrend for the World’s Largest Cryptocurrency

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Jurrien Timmer, director of global macro at Fidelity Investments, has discovered a Bitcoin double bottom pattern.

The same goes for Bitcoin-pegged stocks, which Timmer says usually move with the largest cryptocurrency.

A double bottom pattern usually signals a reversal from bearish to bullish, marking the start of a future uptrend.

As reported by U.Today, the crypto king recently came close to the $45,000 level for the first time since Feb. 10.

Bitcoin is up about 30% in the past week, making an impressive comeback after plunging to just $34,391. The flagship cryptocurrency is still 35.97% lower than its all-time high.

Last month, Timmer compared Bitcoin’s growth trajectory to that of tech giant Apple.

In October, the Fidelity exec predicted that Bitcoin price would eventually rise to $100,000.



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