Bitcoin wey dem dey call undervalued by analysts because of di explosive hash rate growth and di strong network security
Analysts wey dey work for Presto Research don talk say Bitcoin (BTC) dey very undervalued, as di increasing network security and di growing acceptance of BTC as 'digital gold' na critical factors. Even with recent market fluctuations, wey include nearly 5% drop wey follow di August nonfarm payrolls data release, Bitcoin hashrate don reach all-time high of 679 EH/s. Traders dey expect more price volatility with di upcoming CPI and PPI data releases. Di recent weak US payroll data also trigger sell-off wey liquidate over $220 million long BTC positions. Analysts Peter Chung and Min Jung dey recommend make investors focus on Bitcoin long-term potential, wey dey drive by strong network security wey show for di rising hashrate.
Neutral
Though Bitcoin dey rise the hashrate and the strong network security fit show say e get long-term growth potential, the recent market wobble and the expected price wahala wey go happen because of the upcoming economic data wey go come out show say e balance. Traders suppose dey careful for short term but dem fit consider the strong network security as better sign for long-term investment.