Bitcoin (BTC) and altcoins have seen a rapid recovery in recent days, taking Bitcoin from the $80,000 level to over $90,000.
While the general sentiment in the Bitcoin and cryptocurrency markets is leaning bullish, popular analyst Charles Edwards said that despite its rally, Bitcoin is still trading at a discount.
Charles Edwards, founder of Capriole Investments, argued that Bitcoin's current fair value is $130,000, not $90,000.
Edwards X shared on his account that Bitcoin’s Energy Value reached $130,000 a year after the halving event. Accordingly, Bitcoin is trading at a significant discount to its intrinsic value calculated with the Energy Value model.
According to the analyst, the fair value of the Bitcoin price should be around $130,000, but the BTC price is trading at around $93,000 today, which means a 40% discount.
“Bitcoin Energy Value is $130,000. One year after the halving, Bitcoin is trading at a massive 40% discount to its intrinsic value.”
*This is not investment advice.
