Bitcoin Primed To Hit New All-Time High Soon Enough, According to Fidelity’s Global Macro Analyst Jurrien Timmer – Here’s Why

Fidelity Investments’ global macro director Jurrien Timmer says that the stage is set for Bitcoin (BTC) to have an explosive breakout.

In a new thread on the social media platform X, Timmer says that based on a historical relationship between Bitcoin and the global money supply metric the top digital asset by soon print new all-time highs.

“With both liquidity improving per the global money supply and the stock market reaching new highs, it’s no surprise that Bitcoin is on the move again. Both Dr. Jekyll and Mr. Hyde are being supported for now, and Bitcoin should be at new all-time highs soon enough if this momentum continues.”

Source: Jurrien Timmer/X

Timmer also says that a weakening US dollar may drive more investors into gold and, potentially, Bitcoin as a hedge against currency debasement.

“One of the big questions remains whether a new world order is emerging in which the US dollar loses at least some of its supremacy and is supplanted by a mixture of other fiat currencies and hard money (gold and perhaps Bitcoin). Maybe this regime change was signaled three years ago when gold stopped trading in lockstep with real rates.”

Lastly, the analyst says the Sharpe ratio is now starting to favor BTC over gold as a better return on investment. The ratio was created by Nobel laureate William Sharpe and is designed to show the amount of return an investor could potentially get for enduring the volatility of a risky asset.

“With risk appetites rising, the baton has been passed back to Bitcoin, following the pattern of recent months. You can see that in the chart below, with the two Sharpe ratios converging.”

Source: Jurrien Timmer/X

Bitcoin is trading for $107,792 at time of writing, down 1.9% in the last 24 hours.

Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Bitcoin Primed To Hit New All-Time High Soon Enough, According to Fidelity’s Global Macro Analyst Jurrien Timmer – Here’s Why appeared first on The Daily Hodl.

Le contenu de cette page est fourni par des tiers. Sauf indication contraire, OKX n’est pas l’auteur du ou des articles cités et ne revendique aucun droit d’auteur sur le contenu. Le contenu est fourni à titre d’information uniquement et ne représente pas les opinions d’OKX. Il ne s’agit pas d’une approbation de quelque nature que ce soit et ne doit pas être considéré comme un conseil en investissement ou une sollicitation d’achat ou de vente d’actifs numériques. Dans la mesure où l’IA générative est utilisée pour fournir des résumés ou d’autres informations, ce contenu généré par IA peut être inexact ou incohérent. Veuillez lire l’article associé pour obtenir davantage de détails et d’informations. OKX n’est pas responsable du contenu hébergé sur des sites tiers. La détention d’actifs numériques, y compris les stablecoins et les NFT, implique un niveau de risque élevé et leur valeur peut considérablement fluctuer. Examinez soigneusement votre situation financière pour déterminer si le trading ou la détention d’actifs numériques vous convient.