For the manager of Fidelity the price of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. is misaligned based on the value that the digital currency currency is a medium of exchange that defines value. manages to move through its network. The co-founder of Morgan Creek Digital digital technologies are these electronic tools that have the ability to generate, store or even process data. Anthony Pompliano thinks similarly and assures that the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. has very solid underlying fundamentals.
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The director of the global macro area forFidelity, Jurrier Timmer, indicated that Bitcoin at the moment could be much cheaper than it seems, suggesting that the real value of the digital currency is above the price reflected in the main markets.
The value of Bitcoin is above its price
This was announced by Timmer in a message published through his account an account is essentially a whose purpose is to track the financial activities of a specific asset/ of Twitter, where the executive presented a graph where a comparison is made between the price ratio of Bitcoin en los principales mercados y el valor tranzado a través de su red. Este cálculo se hace dividiendo la cotización de la moneda digital y la cantidad de capital capital is most commonly defined as the large sum of money you would use to invest. que pasa por su Blockchain.
Faced with this comparison, Timmer commented:
“Is BTC cheaper than it looks, if we consider a simple ‘P/E’ metric for Bitcoin to be the price/network ratio, then this is back to 2017 and 2013 levels, although BTC itself is only back to late 2020s levels. The valuation of the asset is often more important than its price.”
Is BTC cheaper than it looks? If we consider a simple “P/E” metric for BTC to be the price/network ratio, then that ratio is back to 2017 and 2013 levels, even though BTC itself is only back to late 2020 levels. Valuation often is more important than price. /THREAD pic.twitter.com/6XMPrtRUzF
– Jurrien Timmer (@TimmerFidelity) June 15, 2022
This differential, which is also referred to as the NVT, if it is very high it would indicate that the asset is overvalued, while if it is low it indicates an undervaluation. In this case, the asset would be priced below its real value.
He is not the only one who thinks this way
Another who is also going down this same path is the co-founder of Morgan Creek Digital Anthony Pompliano, who also undertook the task of assessing the state of the quotation of Bitcoin after the digital currency fell sharply in recent days.
In an interview for the media Fox Business, Pompliano indicated that the drop in the price of Bitcoin creates a divergence with respect to its real value, supporting this thesis in the underlying fundamentals of the market an area or arena, online or offline, in which commercial dealings are conducted. and the digital currency, which in his opinion are still very solid.
In this regard, Pompliano commented:
“We are seeing a divergence. Price and value are completely decoupling right now for Bitcoin… What I mean by that is the price fell from highs above USD $69,000 since November to about USD $23,000 today… But the HASH a hash is the output result of a hashing algorithm, which creates a unique, fixed-length string to encrypt and secure a certain selection of arbitrary data. rate hit an all-time high today. The Bitcoin network a network refers to all nodes in the operation of a blockchain at any given moment in time. has never been more secure than it is today. If we then take a look at BTC addresses with at least 0.01; 0.1 or 1 bitcoin in them, your Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. would be hitting record highs.”
Pompliano also added that the ability to Lightning Network also reached new all-time highs, so all this points to the fact that it is only a matter of time before the price of BTC and its fundamental value to converge once again.
Very high expectations for Bitcoin
Although many are concerned and feel uncertain about the drop in prices, for others it was very clear that such a correction a correction is a pullback of an asset’s price of at least 10% to adjust for over-valuation. could come at any time. While the sentiment the sentiment is the overall mood and attitude of traders and investors in regard to a particular asset or the whole market. seems to be very negative among a large number of traders, on the flip side are many others who claim that Bitcoin is proving to be a very valuable asset in the long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. term.
Among the latter are, in recent times, the CEO of MicroStrategy, Michael Saylor, as well as the founder and CEO of SkyBridge Capital, Anthony Scaramucci, who have called for calm and argue that Bitcoin in particular has properties that make it an excellent investment asset for the coming years.
- Former BitMEX CEO Arthur Hayes says if Bitcoin dips below USD $20,000 “better get your prayer book out to Lord Satoshi”
- U.S. Federal Reserve orders another 0.75% increase in interest rates
- Bitcoin continues to fall and approaches USD $20,000 as Ethereum a decentralized open-source blockchain with smart contracts functionality. hovers around USD $1,000 on June 15
Source: Cryptopotato , Daily Mail
Version by Angel Di Matteo / DiarioBitcoin
Imagen de Unsplash
