Fidelity’ exec says BTC undervalued and oversold

Anthony Pompliano made a similar comment on Monday, noting that the price and value of bitcoin are fluctuating and weak hands are selling strong hands. Jurian Timmer, director of global macro Fidelity, argued that Bitcoin (BTC) could be cheaper than that, highlighting Tuesday's evidence that cryptocurrency could be devalued and sold more.

Addressing his 126,000 Twitter followers, Timmer explained that while Bitcoin has returned to the 2020 level, its price-to-network ratio has returned to the 2013 and 2017 levels, which he said could be devalued.