Is Bitcoin Undervalued Now? Industry Expert Decodes The Market State
On Saturday, Bitcoin experienced a robust rally, climbing above $58,250. Despite this upward movement, it was unable to sustain the momentum and close above the 200-day Exponential Moving Average (EMA). This led to the formation of a bearish engulfing candlestick pattern on Sunday, signaling potential downside momentum. Currently, Bitcoin is trading below $56,000, positioning it at a critical juncture in terms of technical analysis and market sentiment. Sina G, the COO and co-founder of 21st Capital, provided a breakdown of the factors influencing Bitcoin’s price trajectory today,....
Related News
The Bitcoin versus Ethereum debate has been going on for years and waxes stronger as the market grows. Pitting the two top cryptocurrencies against each other has been one of the greatest pastimes for the market. However, not everyone subscribes to the school of thought that they are in competition. ARK Invest CEO Cathie Wood is known in the crypto space for giving her outlook on Bitcoin but Ethereum has been largely left out of the conversation. Wood is mostly known in the space for her bitcoin at $500,000 prediction, which she has stood by at various points. Related Reading | Why....
Despite BTC’s price gains in 2020, the failings of our fiat monetary system demonstrate that bitcoin is still significantly undervalued. The post Why Bitcoin Is One Of The Most Undervalued Assets In 2021 appeared first on Bitcoin Magazine.
In the crypto industry, investors are always on the search for undervalued projects that have the greatest potential for increasing early investors’ returns. Finding these hidden gem initiatives just before noteworthy launches is an easy way to profit. Mars4 is one of these projects to keep an eye on, as the team behind it is working on exciting new releases that will be available the next month. These updates will boost the game’s economy and provide players with a sneak peek at the upcoming game. The community should expect the Mars4 project to acquire credibility as a....
Bitcoin price action might not reflect it, but the leading cryptocurrency by market cap could be massively undervalued, according to a variety of fundamental metrics that focus on coin issuance. These tools are widely known, but when combined paint a clear picture that backs up any chance that the top coin by market cap is actually undervalued at $40,000 per BTC. Speculative Boom And Bust Cycles And The Impact On Perception Of Value Any asset – be it stock, currency, commodity, or otherwise – goes through boom and bust cycles; bull and bear markets. These cycles are more rapid and take....
Bloomberg cryptocurrency analyst Mike McGlone says bitcoin is greatly undervalued, suggesting that its fair value price should currently be somewhere around $15,000. The price of bitcoin (BTC) has see-sawed between $10,000 and $12,400 over the last few weeks, often tumbling sharply following what one pundit described as “fake” breakouts. The latest rout saw BTC crash more than 8% within days from over $11,000 to $10,100. At Press time, each bitcoin is trading for $10,695, up nearly 2% in the last 24 hours. McGlone, a senior commodity strategist at Bloomberg, based his arguments....