This Trader Thinks Bitcoin Is Undervalued Below $30,000: Time To Buy More BTC?
On X, one trader going by the handle “CryptoJelleNL” is convinced that accumulating Bitcoin below $30,000 can be rewarding. The trader expects prices to not only expand towards all-time highs printed in 2021 at around $69,000 but break above $100,000 in the coming sessions. Although the analyst didn’t give timelines, the “game plan remains the same,” acknowledging that it will be a “tough mental battle” before exiting the market when BTC soars above $100,000, nearly 4X at spot rates. It is not immediately clear precisely at what price the analyst....
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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.
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....
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....
This year has undoubtedly been one of the most bullish years on record for cryptocurrencies. Bitcoin (BTC), Ethereum (ETH) and numerous other large cap cryptocurrencies achieved their all-time highest values amidst rising institutional interest from the likes of PayPal, Tesla, and BNY Mellon. This has sent the market into a buying frenzy, as savvy investors look to spot the most undervalued crypto assets before they begin exploding in value. When it comes to assessing the […]