Ethereum

Bitcoin ETF

Bitcoin

<p>Fidelity Digital Assets releases a comprehensive short-term and long-term outlook report for Bitcoin (BTC) and Ethereum (ETH), giving investors further confidence to pour money into their Fidelity Wise Origin&nbsp;Bitcoin ETF (FBTC). The latest inflows to FBTC spot Bitcoin ETF clearly show the impact of the outlook report.</p>
<p>FBTC saw a $130 million inflow on February 7, with a total inflow of $145 million from 10 spot Bitcoin ETFs.</p>
<h2 id="fidelity-bitcoin-and-ethereum-report">Fidelity Bitcoin and Ethereum Report</h2>
<p>Fidelity Digital Assets breakdown key market metrics that are impacting Bitcoin (BTC) and Ethereum (ETH) prices and investor sentiment in a 22-page <a rel="noopener noreferrer nofollow" href="https://www.fidelitydigitalassets.com/research-and-insights/q4-2023-signals-report" target="_blank">report</a>. As per the top cryptocurrencies’ performance until Q4 2023, on-chain metrics, and other signal indicators Bitcoin forecasts for 2024, next five years, and beyond 5 years remain ‘positive’. However, Ethereum’s mid-term outlook is ‘neutral’ while short-term outlook is ‘positive’.</p>
<figure id="attachment_179162" aria-describedby="caption-attachment-179162" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class=" wp-image-179162" src="https://coingape.com/wp-content/uploads/2024/02/screenshot-www.fidelitydigitalassets.com-2024.02.08-12_15_22.png" alt="Bitcoin and Ethereum" width="785" height="206" srcset="https://coingape.com/wp-content/uploads/2024/02/screenshot-www.fidelitydigitalassets.com-2024.02.08-12_15_22.png 1283w, https://coingape.com/wp-content/uploads/2024/02/screenshot-www.fidelitydigitalassets.com-2024.02.08-12_15_22-300x79.png 300w, https://coingape.com/wp-content/uploads/2024/02/screenshot-www.fidelitydigitalassets.com-2024.02.08-12_15_22-1224x322.png 1224w, https://coingape.com/wp-content/uploads/2024/02/screenshot-www.fidelitydigitalassets.com-2024.02.08-12_15_22-768x202.png 768w, https://coingape.com/wp-content/uploads/2024/02/screenshot-www.fidelitydigitalassets.com-2024.02.08-12_15_22-150x39.png 150w" sizes="(max-width: 785px) 100vw, 785px">
 <figcaption id="caption-attachment-179162" class="wp-caption-text">
  Source: Fidelity Digital Assets
 </figcaption>
</figure>
<h3 id="bitcoin-prediction-signals">Bitcoin Prediction Signals</h3>
<p>For short-term Bitcoin prediction, Fidelity used factors such as 200-day moving average, golden cross and death cross, and current price greater than realized price. Moreover, Fidelity’s bullish market prediction for 2024 depends on 3 key factors interest rates, Bitcoin halving, and success of spot Bitcoin ETF.</p>
<p>For the mid-term outlook until 2028, NUPL ratio (neutral), MVRV Z-Score, Reserve risk, Stock-to-flow, Puell Multiple, Hodler net position change, Addresses in profit (negative), and Bitcoin yardstick (neutral) were analyzed. Most metrics are positive for Bitcoin price.</p>
<p>For long-term (above 5 years), price above 200-week, monthly address metrics, new address momentum, Liquid vs. illiquid supply, balance is more than 0.1 BTC. All conditions are met for positive outlook on it.</p>
<h3 id="ethereum-prediction-signals">Ethereum Prediction Signals</h3>
<p>Similar 200-day moving average, golden cross and death cross, and current price greater than realized price for short-term ETH price prediction.</p>
<p>For the mid-term outlook until 2028, Fidelity analyzed NUPL ratio, MVRV Z-Score, percent of addresses in profit (negative), and Pi cycle top indicator (neutral).</p>
<p>Monthly address metrics, new address momentum, Addresses over $1K (neutral), Staking by numbers (neutral), Net issuance and burn rate were the metrics analyzed for long-term ETH price prediction.</p>
<h2 id="btc-and-eth-price-action">BTC and ETH Price Action</h2>
<p>Fidelity has also noted that Bitcoin’s post-halving price appreciation declining steadily declining in terms of absolute percentages. A growing Bitcoin market cap, frequent trades, and less BTC availability are some key factors reducing the post-halving rally.</p>
<p><a href="https://coingape.com/price/binance" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> jumped nearly 5% in the past 24 hours, with the price currently trading at $44,465. The 24-hour low and high are $42,845 and $44,728, respectively. Furthermore, the trading volume has increased by 40% in the last 24 hours, indicating a rise in interest among traders.</p>
<p>10x Research CEO and analyst Markus Thielen predicted an upcoming <a href="https://coingape.com/bitcoin-price-analyst-who-predicted-38k-drop-says-50000-coming-soon/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC) price rally</a> as wave 5 begins. He forecasts Bitcoin reclaiming 50,000 level by the end of this quarter.</p>
<p>Meanwhile, <a href="https://coingape.com/price/ethereum" target="_blank" rel="noopener noreferrer nofollow">ETH price</a> also climbed 3% in the last 24 hours, with the price now trading at $2417. The 24-hour low and high are $2,353 and $2,442, respectively. Ethereum rising in response to Dencun upgrade and spot Ethereum ETF hype.</p>
<p><strong>Also Read:</strong></p>
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 <li><a href="https://coingape.com/xrp-whales-move-91-mln-tokens-ahead-of-ex-execs-big-reveal-whats-next/" target="_blank" rel="noopener noreferrer nofollow">XRP Whales Move 91 Mln Tokens Ahead Of Ex-Exec’s Big Reveal, What’s Next?</a></li>
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<p>The post <a href="https://coingape.com/bitcoin-etf-issuer-fidelity-reveals-comprehensive-bitcoin-btc-and-ethereum-eth-prediction/" rel="noopener noreferrer nofollow">Bitcoin ETF Issuer Fidelity Reveals Comprehensive Bitcoin (BTC) and Ethereum (ETH) Prediction</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Bitcoin ETF Issuer Fidelity Reveals Comprehensive Bitcoin (BTC) and Ethereum (ETH) Prediction

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