Is Bitcoin About to Take a Nose Dive? You Won’t Believe What Experts Are Saying! 😱

Ah, Bitcoin. The digital currency that has become the financial equivalent of a rollercoaster ride—thrilling, terrifying, and occasionally, you just want to hurl. Jurrien Timmer, the director of global macro at Fidelity Investments (which sounds like a fancy title for someone who stares at charts all day), has decided to weigh in on the latest Bitcoin drama. He claims that $70,000 is the magic number we should all be watching. Why? Because apparently, that’s where the support is, and we all know how much Bitcoin loves a good support group. 🥳

“Perhaps this correction will set up for the next launch,” Timmer mused, probably while sipping a latte and contemplating the meaning of life. But for now, he insists, all eyes are glued to that $70k mark. It’s like watching a soap opera, but with more volatility and fewer dramatic pauses.

According to Timmer, Bitcoin has returned to a “more grounded” valuation level. Grounded? In the world of cryptocurrency? That’s like saying a cat is grounded for climbing a tree. His valuation model, which sounds suspiciously like something you’d find in a college economics textbook, is based on the internet S-curve and the power curve of wallet growth. If that sounds complicated, it’s because it is. But hey, who doesn’t love a good curve?

As of now, Bitcoin is strutting its stuff at a cool $83,016, having added a whopping 0.3% over the past 24 hours. That’s right, folks, it’s practically a financial superstar! 🌟

But wait, there’s more! Earlier, Bloomberg’s very own Mike McGlone predicted that the price of our beloved cryptocurrency could plunge to that fateful $70,000 level. It’s like watching a suspense thriller where you know the hero is about to trip over a rock. Will it happen? Will it not? Grab your popcorn! 🍿

2025-03-12 23:57

Fidelity: All Eyes on Bitcoin’s Support at $70,000

Is Bitcoin About to Take a Nose Dive? You Won’t Believe What Experts Are Saying! 😱

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