Fidelity Analyst – Bitcoin Price Up-Down Debate “Mostly Noise”
Jurien Timmer calling it like it is, comparing Bitcoin to Apple’s growth
Fidelity analyst: Bitcoin price up-down debate ‘mostly noise,’ watch network’s Apple-esque growth
“’If we apply Metcalfe’s Law and calculate the square of 867, we get 751,111,” noted Timmer, highlighting that it is “roughly in line with the 640,633x realized price gain.’
The stark similarities in the rise of Bitcoin and Apple networks — based on their price and price-to-sales/network ratios — prompted Timmer to hint at long-term growth in the Bitcoin market.
Additionally, the veteran analyst pitted demand curves of mobile phone subscriptions and internet adoption against Bitcoin to draw similar conclusions, suggesting that BTC’s price would rally above $100,000 in the future.”
