Opinion

Bitcoin and Ethereum are Now “Impenetrable,” says Fidelity Macro Expert

Written by: Delma Wilson

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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Aug 2, 2022

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The global macro director of Fidelity, Jurrien Timmer, has provided his prognosis for the market valuation of Ethereum and Bitcoin. According to his study, Bitcoin and Ethereum are much larger than they initially appear to be and may soon have a significant impact on the US economy.

According to Jurrien Timmer, Bitcoin (BTC) and Ethereum (ETH) have advanced to the point where they might be immune to rivals.

Timmer’s Opinion 

In an interview with Raoul Pal on Real Vision, Timmer compares Bitcoin and Ethereum to US tech giant Apple and its widespread influence and sway over the industry.

To support his argument, he cited the examples of large corporations. As per Metcalfe’s law, the value of a community increases exponentially as it grows. 

Timmer used the example of the Apple Computer. If one looks at their annual revenues and the sale of their products, the valuation goes up exponentially. It gets to the point that the community is so highly effective that it has such a big moat around it that no competitor could come near it even if they try. 

The macro experts claim that while other cryptocurrency projects will continue to exist and compete with the top digital assets by market cap, Bitcoin and Ethereum have already entrenched their positions as big players.

But a few years ago, several investors warned that regulation would rapidly outlaw the industry. They believe that ship has sailed.

It’s important to observe where the wave will carry the altcoins by the end of the year because the current instability is here to stay. Ethereum is now trading at $1,694, while Bitcoin is at $23,749. 

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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