No products in the cart.
- Latest
- Trending
ADVERTISEMENT
The popular crypto strategist, who continues to gain supporters with his timely Bitcoin (BTC) analysis, says the King crypto is grossly undervalued.
In a new interview on the Real Vision Crypto channel, Cowen said: To tell Significantly undervalued crypto assets based on logarithmic regression models.
This chart is something I have shown a few times in the past. The blue line is the total cryptocurrency market capitalization.
The overall idea is that the fair value of the asset class is [crypto] It monotonically increases over time and oscillates around its fair value.
Current data suggests that it is undervalued by approximately 50% compared to its fair value.
Cryptocurrencies’ current valuations may look attractive to long-term investors, but Cowen warned that the asset class could drop another 15%.
“However [the chart] It also suggests that. Major troughs are usually undervalued by 60% to nearly 65% before they can actually sustain another bull market
We still need a little more time to get out of this bear market.
Turning to Bitcoin, it will likely take 14 months or more for the flagship crypto asset to return to its fair value, Cowen said.
Bitcoin has always traded at a fair price during the halving.
So where is the price by the time it hits below fair value in every bear market and the next bitcoin halving.
So to bring it back to fair value, I think it’s very likely that it will be in 2024. I think it will be early 2024.
Me
Don’t miss a beat subscribe to get encrypted email alerts delivered straight to your inbox
Price action confirmation
Please follow us twitter, Facebook When telegram
Surf The Daily Hodl Mix
 
Featured image: Shutterstock/Salamahin/Juliana Nan
