RATE Group | Bitcoin At $7000, Undervalued Or Overvalued?
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Bitcoin At $7000, Undervalued Or Overvalued?

01 Sep Bitcoin At $7000, Undervalued Or Overvalued?

Posted at 01:52h in Bitcoin News by

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(Photo by Omar Marques/SOPA Images/LightRocket via Getty Images)

At $7,000, Bitcoin can be both undervalued or overvalued, depending on how the “intrinsic” value of the digital currency is calculated.

After testing the $6000-mark for a while, Bitcoin has staged a big comeback lately. In the last seven days, the digital currency has rallied 6.15%, trading close to the $7,000-mark. Other cryptocurrencies have rallied in sympathy—see table 1 and Table 2.

Table 1

Coin %7d
Bitcoin (BTC) 6.15%
Ethereum (ETH) 1.35
XRP 3.22

*As of 8/31/2018, at 4pm.

Source: Coinmarketcap.com 

Table 2

Number of Cryptocurrencies That Advanced/Declined In The Top 100 Ranks Over The Last Seven Days

Cryptocurrencies Advance/Decline Number
Advance 84
Decline 16

*As of 8/31/2018, at 4pm.

Source: Coinmarketcap.com

The rally in cryptocurrencies have some experts cheering. One of them is Global…

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