The first reader comment I found for that article predicted Fidelity's decision will come back to haunt them.
I agree.
A quick look at Bitcoin down 55% YTD vs NASDAQ down 23% YTD suggests to me crypto is not tracking the NASDAQ as suggested in this thread.
When I lived in the Midwest a weekly agricultural show, called Market to Market, had guest pundits that would predict where the price of beans or pork bellies was headed. One could tell these guys really didn't know, anymore than relying on The Farmers Almanac to predict yields.
For me, the folks that are promoting crypto are even more lacking solid knowledge where the price is going next. At least pork bellies represent a true underlying value. Crypto, not.
IMO the demand is only sustained by the crypto industry itself shilling for more to join the market. And now Fidelity has come aboard. Does anyone see similarities to a pyramid scheme? In this case, the ability to join the scheme requires just a few keystrokes. I try not to judge my coworkers that joined the crypto train as pigeons. I do worry how they have sacrificed a large piece of their nest egg.
Full disclosure, I moved all my qualified retirement $$ from legacy Fidelity accounts over to Vanguard at the end of last year. Glad that I did.