A top executive at financial services giant Fidelity Investments believes that Bitcoin (BTC អ) is currently a bargain.
Fidelity’s director of global macro Jurrien Timmer បាននិយាយថា that based on the thesis that Bitcoin price will rise as its network grows, the flagship crypto asset is looking “cheap”.
“If you believe in Bitcoin’s adoption-curve thesis (i.e. that the network will continue to expand in line with previous S-curves), then it’s reasonable to view Bitcoin as cheap at these levels.”
According to the macro expert, the price of Bitcoin is ខាងក្រោម the actual and projected growth of its network.
“For me, the main nuance is the slope of the adoption curve. Whether we use the mobile-phone curve or internet curve as proxies, Bitcoin’s price is below its actual and projected network-growth curve. That curve provides a fundamental anchor for Bitcoin’s price.”
Timmer has previously ពន្យល់ that Bitcoin’s adoption rate is likely to កញ្ចក់ that of mobile phones or internet technology.
Using the analogy of Bitcoin as digital gold, Timmer បាននិយាយថា that the king crypto was massively oversold during the recent market downturn and has deviated from the trend when the two are compared side by side.
“If Bitcoin is gold’s precocious younger sibling, it makes sense to look at Bitcoin priced in gold (i.e., Bitcoin’s beta to gold). Technically, the recent sell-off produced the biggest oversold condition in years (measured as the number of standard deviations from trend).”
The macro expert also says that amid the crypto downturn, the percentage of Bitcoin held for less than three months (អ្នកកាន់រយៈពេលខ្លី) remains relatively unchanged while the percentage of Bitcoin held for over 10 years (អ្នកកាន់រយៈពេលវែង) is rising.
“Who is buying Bitcoin these days? Apparently not the tourists (i.e., short-term holders). The percentage of Bitcoins held less than three months has barely budged lately.”
“But the number of HODLers keeps growing. The percentage of Bitcoin held for at least 10 years is now 13%.”
កុំនឹក Beat - ជាវប្រចាំ ដើម្បីទទួលបានការដាស់តឿនអ៊ីមែលតាមអ៊ីមែលដែលផ្ញើដោយផ្ទាល់ទៅប្រអប់ទទួលរបស់អ្នក
ពិនិត្យ សកម្មភាពតម្លៃ
តាមយើងនៅលើ Twitter, Facebook និង Telegram
surf ឌឹដហូមលាយប្រចាំថ្ងៃ
ការបដិសេធ: មតិដែលបានសម្តែងនៅឌឹដហូមដស៍មិនមែនជាដំបូន្មានវិនិយោគទេ។ វិនិយោគិនគួរតែប្រឹងប្រែងដោយយកចិត្តទុកដាក់មុនពេលធ្វើការវិនិយោគដែលមានហានិភ័យខ្ពស់នៅក្នុង Bitcoin, cryptocurrency ឬទ្រព្យសម្បត្តិឌីជីថល។ សូមណែនាំថាការផ្ទេរនិងការធ្វើពាណិជ្ជកម្មរបស់អ្នកគឺជាហានិភ័យផ្ទាល់របស់អ្នកហើយការបាត់បង់ណាមួយដែលអ្នកអាចទទួលរងគឺជាទំនួលខុសត្រូវរបស់អ្នក។ Daily Hodl មិនបានផ្តល់អនុសាសន៍ឱ្យទិញឬលក់រូបិយប័ណ្ណគ្រីបថលឬទ្រព្យសម្បត្តិឌីជីថលទេហើយក៏មិនមែនជាអ្នកផ្តល់ប្រឹក្សាផ្នែកវិនិយោគផងដែរ។ សូមកត់សម្គាល់ថាឌឹដេវហូដចូលរួមក្នុងទីផ្សារសម្ព័ន្ធ។
Featured Image: Shutterstock/Maria Starus
Source: https://dailyhodl.com/2022/08/19/bitcoin-is-currently-cheap-amid-biggest-oversold-condition-in-years-says-fidelity-macro-expert-heres-why/