{"id":36675,"date":"2024-03-09T10:52:36","date_gmt":"2024-03-09T14:52:36","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=36675"},"modified":"2024-03-09T10:52:36","modified_gmt":"2024-03-09T14:52:36","slug":"crypto-analyst-says-bitcoin-is-heavily-undervalued-despite-ath-whats-the-fair-value","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/03\/09\/crypto-analyst-says-bitcoin-is-heavily-undervalued-despite-ath-whats-the-fair-value\/","title":{"rendered":"Crypto Analyst Says Bitcoin Is Heavily Undervalued Despite ATH, What\u2019s The Fair Value?"},"content":{"rendered":"

Despite Bitcoin recently hitting a new all-time high (ATH)<\/a> of over $70,000, crypto analyst Micha\u00ebl van de Poppe<\/a> believes that there is still more room for significant moves to the upside. Interestingly, he also expects that this bull cycle will be one like no other.<\/p>\n

Bitcoin Still Heavily Undervalued<\/h2>\n

Micha\u00ebl van de Poppe mentioned in an X (formerly Twitter) post<\/a> that Bitcoin was still \u201cheavily undervalued\u201d despite hitting a new ATH. He added that the value is \u201cway higher\u201d and noted how the flagship crypto can help hedge against inflation and keep one\u2019s purchasing power alive. Meanwhile, the crypto analyst believes there will be \u201cway higher numbers\u201d in this cycle<\/a>.<\/p>\n

Micha\u00ebl van de Poppe had previously hinted<\/a> at Bitcoin rising to as high as $150,000 in this bull run. Other analysts have also given similar price predictions<\/a>, with the consensus that BTC will surely rise above $100,000. Other crypto analysts, including MacronautBTC, have even gone as far as predicting<\/a> that Bitcoin could rise above $200,000.\u00a0<\/p>\n

There is a growing belief that this bull cycle will be the mother of all past cycles, which could be the reason for such ambitious predictions. Moreover, this cycle has the Spot Bitcoin ETFs<\/a>, something past bull runs didn\u2019t have. These ETFs have ushered in more institutional demand<\/a> for the flagship crypto, which has led to an overall increase in the demand for Bitcoin.\u00a0<\/p>\n

Interestingly, NewsBTC previously reported<\/a> that the demand for Bitcoin is significantly exceeding Miners\u2019 supply. This development is coming at a time when miners\u2019 rewards are set to be cut in half<\/a> during the Bitcoin Halving. This would likely lead to more imbalance between the demand and supply curve, potentially leading to an exponential surge in Bitcoin\u2019s price.\u00a0<\/p>\n

BTC Still Has Enough Time To Hit New Highs\u00a0<\/h2>\n

Bitcoin hitting a new ATH of $70,000 is just the beginning of this bull run, as there is reason to believe this bullish momentum<\/a> could run into next year. Crypto analyst Ali Martinez<\/a> noted in an X post<\/a> that Bitcoin has \u201cconsistently taken about 8 to 11 months to hit a market top\u201d whenever it has shattered its previous ATH.\u00a0\u00a0\u00a0<\/p>\n

With Bitcoin currently hitting new highs, the analyst added that historical patterns<\/a> suggest that the next BTC market top \u201cwill be sometime between November 2024 and February 2025.\u201d However,\u00a0 Alex Thorn, Head of Research at Galaxy Digital, has warned<\/a> that \u201cbull markets are not straight lines up\u201d and that sharp corrections should be expected along the way.\u00a0<\/p>\n

At the time of writing, Bitcoin is trading at around $68,300, up over 2% in the last 24 hours according to data<\/a> from CoinMarketCap.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Despite Bitcoin recently hitting a new all-time high (ATH)<\/a> of over $70,000, crypto analyst Micha\u00ebl van de Poppe<\/a> believes that there is still more room for significant moves to the upside. Interestingly, he also expects that this bull cycle will be one like no other.<\/p>\n

Bitcoin Still Heavily Undervalued<\/h2>\n

Micha\u00ebl van de Poppe mentioned in an X (formerly Twitter) post<\/a> that Bitcoin was still \u201cheavily undervalued\u201d despite hitting a new ATH. He added that the value is \u201cway higher\u201d and noted how the flagship crypto can help hedge against inflation and keep one\u2019s purchasing power alive. Meanwhile, the crypto analyst believes there will be \u201cway higher numbers\u201d in this cycle<\/a>.<\/p>\n

Micha\u00ebl van de Poppe had previously hinted<\/a> at Bitcoin rising to as high as $150,000 in this bull run. Other analysts have also given similar price predictions<\/a>, with the consensus that BTC will surely rise above $100,000. Other crypto analysts, including MacronautBTC, have even gone as far as predicting<\/a> that Bitcoin could rise above $200,000.\u00a0<\/p>\n

There is a growing belief that this bull cycle will be the mother of all past cycles, which could be the reason for such ambitious predictions. Moreover, this cycle has the Spot Bitcoin ETFs<\/a>, something past bull runs didn\u2019t have. These ETFs have ushered in more institutional demand<\/a> for the flagship crypto, which has led to an overall increase in the demand for Bitcoin.\u00a0<\/p>\n

Interestingly, NewsBTC previously reported<\/a> that the demand for Bitcoin is significantly exceeding Miners\u2019 supply. This development is coming at a time when miners\u2019 rewards are set to be cut in half<\/a> during the Bitcoin Halving. This would likely lead to more imbalance between the demand and supply curve, potentially leading to an exponential surge in Bitcoin\u2019s price.\u00a0<\/p>\n

BTC Still Has Enough Time To Hit New Highs\u00a0<\/h2>\n

Bitcoin hitting a new ATH of $70,000 is just the beginning of this bull run, as there is reason to believe this bullish momentum<\/a> could run into next year. Crypto analyst Ali Martinez<\/a> noted in an X post<\/a> that Bitcoin has \u201cconsistently taken about 8 to 11 months to hit a market top\u201d whenever it has shattered its previous ATH.\u00a0\u00a0\u00a0<\/p>\n

With Bitcoin currently hitting new highs, the analyst added that historical patterns<\/a> suggest that the next BTC market top \u201cwill be sometime between November 2024 and February 2025.\u201d However,\u00a0 Alex Thorn, Head of Research at Galaxy Digital, has warned<\/a> that \u201cbull markets are not straight lines up\u201d and that sharp corrections should be expected along the way.\u00a0<\/p>\n

At the time of writing, Bitcoin is trading at around $68,300, up over 2% in the last 24 hours according to data<\/a> from CoinMarketCap.\u00a0<\/p>\n

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