Fidelity Digital Assets has updated its medium-term outlook on Bitcoin (CRYPTO:BTC) to neutral, reflecting concerns over growing selling pressure and negative valuation trends observed in recent market analyses.
This adjustment indicates a shift in the company's perspective on Bitcoin's investment potential in the near to medium future, suggesting that investors might want to exercise caution.
As highlighted in their recent market analysis, there's a noticeable increase in factors that could hinder Bitcoin's value growth, leading Fidelity to reassess its stance.
The news marks a significant development for investors keeping an eye on cryptocurrency trends and Fidelity's investment strategies.