Gorian Timer, Director of Global Macro at Fidelity Investments, OPINED This bitcoin is no longer exaggerated after the last correction.
“When the basic procedure becomes noisy and volatile, it is always good to return to the basics of evaluation,” he said on the social network.
Timmer uses major approaches to determine the fair value of Bitcoin: Snever S-curve and wallet power curve.
After the last prices drop, Bitcoin appears to be “in the center” of the path, according to Timmar. This indicates that the cryptocurrency is neither exaggerated nor less price.
“From its inception, the price of Bitcoin was closely related to the size and growth of its network, with cross -shows from time to time that is expected of the emerging assets that pass by the discovery of prices,” explained Timmer earlier.
Last month, Timer OPINED The growth of the Bitcoin network has slowed down due to the dominance of Etps Bitcoin.
The reason for the correction
Timmer attributes the last correction to the “tourists” who jumped on the Bitcoin train in late 2024:
Based on open interest and ETP flows, this appears to be mostly produced by tourists who jumped on the momentum train last November.
Related
Earlier in the day, the Bitcoin price decreased to the lowest level of the day at 81,688 dollars, but since then he has reduced some of these losses. The cryptocurrency is currently being traded at $ 85369, according to COONINGKO data.
More than a billion dollars have been filtered from the blades, and the short pants have been filtered over the past 24 hours.
