Is Bitcoin Overpriced by More Than 50% ?
So how can one determine what the market sees as a digital coin's fair value, or how can one arrive at a Bitcoin valuation? How do you even think of intrinsic value for something that only exists within computer networks, but yet has appreciated in price faster than the shares of even the hottest technology stocks? These questions have befuddled investors and analysts like me, the sad reality is we don't have a universal proven method to answer this question.
However there is one proven method if used correctly can tell us what is the fair value of BTC. And that is Elliot Wave. given my experience of Pattern recognition with an accuracy of greater than 80%. Given the current inflationary environment and hype behind BTC. After putting this chart into the context of Elliot Wave I have come to the conclusion that the fair price for BTC is above 30k. more precisely 32k.
Also I expect major indexes to fall around 10 to 15 % percent starting from this week and it can drag down BTC with it as usual.
Please note that these are my personal thoughts and they could be wrong.
However there is one proven method if used correctly can tell us what is the fair value of BTC. And that is Elliot Wave. given my experience of Pattern recognition with an accuracy of greater than 80%. Given the current inflationary environment and hype behind BTC. After putting this chart into the context of Elliot Wave I have come to the conclusion that the fair price for BTC is above 30k. more precisely 32k.
Also I expect major indexes to fall around 10 to 15 % percent starting from this week and it can drag down BTC with it as usual.
Please note that these are my personal thoughts and they could be wrong.
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US heavy Tech NAS100 to drop for next two weeks and bounce back on the Santa Rally.
