RATE Group | Bitcoin Price Reaches Fair Market Valuation, While Costs of Production Rise
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Bitcoin Price Reaches Fair Market Valuation, While Costs of Production Rise

19 Dec Bitcoin Price Reaches Fair Market Valuation, While Costs of Production Rise

Posted at 21:42h in Bitcoin News by

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Bitcoin price may be dropping deeper into a downtrend over the course of the last few months, but the first-ever cryptocurrency is actually much closer now to fair market value than it has been throughout the year.

However, as Bitcoin price falls toward fair valuations, the cost of production rises exponentially, and may be part of the cause of the downtrend itself.

Bitcoin Price Valued Fairly At Current Levels, According to New Data

Chartered financial analyst and staunch Bitcoin supporter Timothy Peterson has shared various metrics from crypto data aggregator CoinMetrics related to the leading cryptocurrency by market cap.

Related Reading | Former IMF Economist: Current Bitcoin Trend is “Textbook Echo Bubble”

According to the analyst, Bitcoin is currently trading at prices that would be considered “fair” for the cryptocurrency. Prices have fallen back toward levels of fairness, after spending much of 2019 soaring higher than the fair market valuation of what Bitcoin should be…

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