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For the past week, the price of bitcoin has been range bound. The currency has recently risen in value. It has not yet hit $20,000 in value. The price of Bitcoin has remained stable between $18,000 and $20,000.
BTC has fallen 0.4% in the previous 24 hours, indicating minor price movement.
Known for his astute and timely analysis of Bitcoin (BTCprice) price movement, crypto expert Cowen recently argued that BTC is still considerably undervalued in an interview with Real Vision Crypto.
His logarithmic regression study shows that crypto assets are significantly undervalued compared to their true market worth.
“I’ve shown this chart before, and it’s been useful. Total market cap for all cryptocurrencies is shown in blue. Fair value logarithmic regression trendline is shown in red.”
“The price of Bitcoin has always been at its fair value at the time when it has been halved.”
Consequently, throughout each and every bear market, the price of bitcoin drops below its true worth, and by the time we reach the next Bitcoin halving, the price has returned to its previous level.