2024 saw Bitcoin, under the guidance of Jurrien Timmer, director of global macro at Fidelity Investments, take center stage with its remarkable surge. This rally propelled Bitcoin past the significant milestone of $100,000 for the first time.
Additionally, he pointed out that gold’s exceptional success stood out even more because it tends to perform poorly when other assets are thriving.
As a researcher, I observed that the market trends at the end of last year mirrored their beginning, with Bitcoin, gold, and some leading U.S. stocks taking center stage. However, it remains uncertain whether this trend will persist into this year. Pondering over whether 2025 might reverse these patterns is a topic that I, along with many others, will delve deeply into in the upcoming months.
In December, Bitcoin hit an all-time peak of $108,135, but since then, it’s had trouble recovering because of the Federal Reserve’s tough stance.
In December, Timmer expressed his viewpoint that gold and Bitcoin are essentially working towards the same goal or objective. Together, these two assets amassed a total market worth of approximately $20 trillion dollars.
As a researcher, I found myself observing an interesting perspective. Despite the apparent significance of reaching the $100,000 mark, this individual seemed to minimize its importance, casually referring to it as merely “the price.
Regarding Bitcoin reaching $100,000, that’s debatable as it depends on one’s perspective, but if you consider the total market value at $20 trillion, that’s a figure grounded in financial foundations according to him.
One important factor influencing whether Bitcoin and gold will continue rising is the expansion of the money supply. This was pointed out.
Previously, it was mentioned by Timmer that the value of Bitcoin has often mirrored the expansion and development of its network. However, in November, he sounded a cautionary note, suggesting that the growth of Bitcoin’s network had noticeably decelerated in the year 2024.
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2025-01-09 22:10