Bitcoin dey sell 40% cheap pass Energy Value Model becos of plenty money wey enter ETF and many money wey comot from exchange
As Capriole Investments' Charles Edwards tok, Bitcoin (BTC) dey trade at 40% discount to wetin dem estimate say e suppose cost. Di Bitcoin Energy Value Model put BTC value around $130,000, but di market price still low even after one year since di last halving. Dis show say e fit be undervaluation based on how much e cost to mine am and how much energy e take. Wetin beta be say, spot Bitcoin ETFs dey see plenty demand from big companies, dem record $3 billion inflow for one week, and dis show say big investors get strong trust. Also, big exchanges like Coinbase and Binance don see plenty Bitcoin comot, wey dem usually link to big companies buying or pipu buying for ETF. Analysts tok say if di market follow how e dey do before, Bitcoin fit go up anoda 7-10% soon, e fit even pass di $100,000 resistance, but e no mean say anytime Bitcoin comot plenty for exchange, di price go just shoot up sharp sharp. Overall, as ETF money dey enter, and Bitcoin dey comot from exchanges, plus di value dem measure, e show say pipu get positive mind and di crypto market fit continue to dey rise.
Bullish
As you sabi say Bitcoin price drop 40% compare to how much energy dem use to make am, e show say e fit be say the price too low for now. Dis kin tin fit make investors wey like to find correct price buy am. Plenty money wey dey enter spot Bitcoin ETFs every week and plenty money wey comot from big exchanges show say big big companies and institutions don dey gather am, and dis na wetin dey usually make price go up before. Experts talk say in short time, e fit go up by 7-10%, and e fit even reach $100,000 if di market pattern wey show go up continue. But pipo still dey careful because di price get strong place wey e dey struggle to pass, and also because no be every time wey money comot from exchanges mean say price go sudden jump. But generally, since di price appear low and big institutions dey buy am well, e mean say Bitcoin fit go up for short time and for long time.