Bitcoin (BTC) Could Receive A Boost In Price And The Catalyst Is Fidelity
The Bitcoin-related predictions are varying these days following the recent correction that BTC has suffered after the coin raced like crazy and made everyone in the crypto space excited.
Some experts said that we should wait for more surges and others have said that she should be bracing ourselves for a massive correction.
For instance, just the other day we were reporting that crypto analyst Tone Vays said that BTC’s recent failure to push past the resistance at around $12,500 shows that the bears will make a massive comeback, unfortunately.
He said that he could be a buyer at around $9,000 but warned that BTC could drop as low as $5,000.
Fidelity could boost BTC’s price
Now, Fidelity International which you may already know is a subsidiary of Fidelity Investments is getting closer and closer to entering the crypto space, and this could boost the most important coin in the market straight to the moon, according to Ethereum World News.
At the moment, BTC is trading in the green on CMC, and the most important crypto in the market is priced at $12,680.28.
Fidelity managed to already set up a custody operation that’s called Fidelity Digital Assets.
Financial News reported that someone familiar with the matter has confirmed that “staff across various parts of the international business” are investigating the blockchain technology, according to the online magazine mentioned above.
According to the newspaper, the parent company is close to getting its trading desk going.
Crypto trading game can boost the financial system
Ethereum World News also notes that more evidence of the surging crypto acceptance at one of the world’s biggest fund managers comes from the very fantasy crypto trading game that has been running internally for the members of the staff at the international arm.
At Fidelity International which boasts 8,000 staff, 1,200 are already playing.
The trading game was unveiled during an industry conference back in June by chief executive Anne Richards.
“We have a bitcoin trading game that we use internally, as a way of teaching people about distributed ledger technology and digital tokenization, which ultimately will be an important part of the whole financial system going forward,” she said.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.