Bitcoin and Ethereum Price Analysis: Time to Buy the Dip?
Fidelity Investments’ veteran technical research analyst Jurrien Timmer who has 27 years of experience in the field, has shared an exciting finding.
By plotting Bitcoin’s valuation against its price since its launch, Timmer concluded that Bitcoin is cheap.
However, when he did the same thing with Ethereum, the results were even more startling and promising, especially for investors who buy the dip.
According to Timmer, Bitcoin is currently available cheaper than ever, and Ethereum is arguably trading at its bottom.
He figured out Bitcoin and Ethereum valuation by plotting their price over the years against millions of non-zero addresses holding them during that time.
After plotting Bitcoin against Ethereum, Timmer discovered that if ETH is where BTC was four years ago, Vitalik Buterin’s crypto could be close to a bottom. A great opportunity to buy.
Timmer compared Bitcoin’s network growth with other modern techs. He discovered Bitcoin’s adoption curve to be similar to the internet adoption curve, which is a good sign for the king crypto.
Jurrien Timmer’s findings favor the world’s number 1 and 2 cryptos. However, both are struggling now: BTC is trading at $21,266 and ETH at $1,190.56? Probably the time for the Bulls to strike?