Jurrien Timmer, Fidelity Investments director of global macro spoke on CNBC yesterday discussed bitcoin using price prediction models, market outlook, and opinion. Timmer said that Bitcoin is likely being driven by organic spot demand and can be extended further. Timer predicts bitcoin will reach $100,000 by 2023.
The director said “This has not been a momentum-fueled run by short-term speculators, so that gives me some confidence that this actually is a pretty sustainable move and is not a bubble that is about to burst. The trajectory is up and so far there really is no evidence that this is a bunch of momentum chasers bringing this up to $57,000.”