Both Bitcoin and Ethereum are cheap at current prices, according to TimmerFidelity
Speaking of Bitcoin’s adoption, the executive believes that Bitcoin is following the internet adoption curve instead of “the more exponential” mobile adoption curve. This suggests that Bitcoin will experience more “modest” price appreciation in the future., Timmer recently drew parallels between Bitcoin and Apple in terms of their growth trajectory.
Fidelity, the first U.S. financial giant to adopt Bitcoin, remains bullish on the largest cryptocurrency in spite of the massive price correction. Last month, Timmer pointed to the fact that Bitcoin’s price/network ratio was at the lowest level since 2017. Earlier today, Bitcoin surged to $22,000, but the largest cryptocurrency gave up some of its gains due to the stronger-than-expected U.S. jobs data.
The cryptocurrency market remains under pressure due to the Federal Reserve's extremely hawkish monetary policy.
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