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Fidelity Digital: Bitcoin is in a healthy phase of consolidation

Bitcoin, the leading cryptocurrency by market capitalization, continues to be traded significantly below the $ 42,000 peak. The crypto money, which was withdrawn to $ 28,800 and recovered a little recently, found buyers in the range of $ 31-33,000 today.

Should he be worried about this withdrawal in Bitcoin? According to Tom Jessop, general manager of Fidelity Digital Assets, the crypto currency arm of Fidelity, one of the largest asset management companies in the world, the market is experiencing a healthy consolidation period.

Making a statement to CNBC on the subject, Jessop said, “From September to December, the price doubled and we went from $ 10,000 to $ 20,000 very quickly. And then he did another 100% again from December to early January. Therefore, I think we are currently in a healthy consolidation phase in terms of the market. You know that this market is still very early and it is difficult to attribute the price action to certain factors. You can really look at the data on the blockchain and see where the money is going, pointing to the bullish trend lately, investors on the network seem to be removing money from exchanges. So I think it’s just a healthy profit taking and some consolidation. ” used the expressions.

Bitcoin changes hands at 23.45 at $ 31 thousand 700.

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