Fidelity Digital Assets Report: Overall positive outlook for Bitcoin and Ethereum in the short and long term

According to a report published by Fidelity Digital Assets, as of the end of the fourth quarter of 2023, data shows that the short- and long-term prospects for Bitcoin and Ethereum are generally positive. Bitcoin price is up 154% by the end of 2023 and has breached many short-term and long-term indicators at the time of writing. The reduction in the supply of tokens present on exchanges will be a key indicator to watch closely in 2024 and highlights the importance of alternative custody options, such as self-custody or using a regulated third-party custodian. Ethereum is up around 90% over the same period, with short-term positive price signals and growing on-chain indicators emerging in late 2023. Overall, the slowdown in the growth of staked Ethereum, the adoption of Layer 2, and the continued use of the base layer all point to a healthy Ethereum ecosystem in 2024.