RATE Group | Bitcoin is Severely Undervalued and Fair Market Value is $14,800
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Bitcoin is Severely Undervalued and Fair Market Value is $14,800

16 Dec Bitcoin is Severely Undervalued and Fair Market Value is $14,800

Posted at 16:26h in Bitcoin News by

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To some people, it appears the cryptocurrency markets have run out of steam as the price continues to dwindle, finding new lows. However, despite these dark times, there are still sparks of hope left among notable members in the space.

Bitcoin bull, Thomas Lee, the head of research at Fundstrat Global Advisors previously predicted the price of Bitcoin to rally to $25,000 by the year’s end. While it appears his prediction will not come true as Bitcoin is trading at $3,300, Lee remains optimistic.

Bitcoin is Severely Undervalued

According to Lee, bitcoin’s price is severely undervalued at $3,300 and its fair value is closer to between $13,800 to $14,800.

As reported by Bloomberg, Lee said:

Fair value is significantly higher than the current price of Bitcoin. In fact, working backwards, to solve for the current price of Bitcoin, this implies crypto wallets should fall to 17 million from 50 million currently.

Lee is pointing out that despite the massive decrease in Bitcoin’s…

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