Jurrien Timmer, the global macro director at Fidelity Investments, has shared insights on Bitcoin’s price trajectory, pinpointing $70,000 as a crucial support threshold.
Timmer indicates that Bitcoin has reverted to a more sensible valuation zone after the recent price decrease.
His valuation model is built upon the internet S-curve and the power law curve of wallet expansion.
Timmer anticipates this adjustment might be a precursor to the subsequent price surge, but the $70,000 support threshold should be closely observed.
Earlier, Mike McGlone from Bloomberg forecasted that the premier cryptocurrency’s price could potentially fall to the $70,000 level. Toncoin (TON) Value Forecast for March 26th
The cryptocurrency has risen by 0.3% over the last day, and is presently priced at $83,016.
