We are still hopeful that our earlier Bitcoin projection will still hold true. We did see the rise to $11,700 followed by a drop as predicted but how far will this drop go? Previously we suggested $9800 - $8900 but with the news coming out right now it's almost looking bullish from here.

Of course we won't know until it happens over the next few days but we wanted to share this tidbit of information. This is HUGE news for Bitcoin.

Fidelity researcher has stated a new position on Bitcoin. Earlier Fidelity had suggest that their investors hold a 2% allocation of Bitcoin within their portfolios. Today that number has been increased to a minimum of 5% allocation for Bitcoin specifically.

The reason for the increase:

After extensive research Fidelity has concluded that Bitcoin has a VERY LOW correlation with the rest of the market or any other specific coin. This has made Bitcoin appear to be less of a risk for the Multi-Million and Multi-Billion dollar clients that Fidelity services.

If Fidelity's Clientele follow suit as they always do, this will mean a huge surge for Bitcoin prices. We could see a serious uptick with Trillions of dollars suddenly pumped into the Bitcoin Market.  

Keep your eyes peeled and on those charts, pay attention for the next Bitcoin low, this could be the last dip we see in BTC for the rest of this year and maybe even next.

Happy coining

BlueskyCrypto

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