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Analyst: Bitcoin is still in the middle of the adoption wave, and its trend can be compared to the Internet popularity curve
Odaily News Jurrien Timmer, head of global macro at Fidelity, compared Bitcoin to the Internet wave and emphasized that Bitcoins growth trajectory is highly similar to the Internets popularity curve over the past few decades.
“Bitcoin is still following the power law curve of wallet numbers and the demand model I built based on internet penetration,” Timmer said. “We’re in the middle of that curve.”
The analysis pointed out that the current step-by-step rise + consolidation trend of Bitcoin prices still reflects that this is an asset class that is maturing but not yet saturated.
Regarding the influx of funds, Timmer commented that it is not clear whether these funds come from long-term believers or short-term speculators. (Cointelegraph)
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