Fidelity global head of macro Jurrien Timmer claimed in a recent tweet that Bitcoin’s price performance is at its lowest level since 2013. Meanwhile, the second-largest cryptocurrency, Ethereum, is even cheaper compared to Bitcoin at current prices.
The data shows that the two largest cryptocurrencies are down 68.58% and 74.95%, respectively, from their all-time highs.
According to Timmer, a correction in Ethereum could be close to bringing the price closer to the bottom. Also speaking about Bitcoin adoption, the executive believes that Bitcoin follows the internet adoption curve rather than the more exponential mobile adoption curve. This suggests that Bitcoin will experience more modest price gains in the future.