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Bitcoin 75% Undervalued?

December 13, 2018

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Bitcoin 75% Undervalued?

Bitcoin’s current fair value is between US$13,800 and US$14,800, says noted bitcoin bull Thomas Lee in a note to investors reported on by Bloomberg News Thursday.

Lee cites the approximately 50 million bitcoin and cryptocurrency wallets worldwide in also stating that if the recent price plunge were reflected in fundamentals, it would suggest there should be only about one third that number of wallets, or 17 million, worldwide.

On Thursday evening, bitcoin was trading in a range between US$3,400 and US$3,500, or a level from October 2017.