Bitcoin continues to take the bullish path.
The market leader is currently trading at $7232.10 per coin and is up 7.47 percent over the last week.
This hovering around the $7k level provoked Forbes into asking whether or not the first and foremost cryptocurrency is undervalued or overvalued. Here’s what two experts had to say.
Bitcoin’s ‘Hard Value’ Price is Roughly $6000
Global Blockchain CEO Shidan Gouran believes Bitcoin is currently trading near it’s lowest feasible level, citing the cost of mining as the market leader’s true floor.
Of course, plenty of people in the world — from the U.S. Securities and Exchange Commission to Venezuela — do see value in Bitcoin and other cryptocurrencies.
‘There’s Nothing to Explain’
On the other hand, Investing.com Senior Analyst Clement Thibault believes Bitcoin’s price is purely the product of speculation. Thibault apparently doesn’t consider the continual increase in hash rate, Lightning Network progress, and adoption in countries with failing fiat currencies to be “meaningful.” What do you think about Gouran’s and Thibault’s opinions on the current price of Bitcoin? Do you think Bitcoin is worth $7000? Let us know your thoughts in the comments below!
Top crypto platforms | July 2024
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Kyle Baird
Kyle migrated from the East Coast USA to South-East Asia after graduating from Pennsylvania's East Stroudsburg University with a Bachelor of Science degree in 2010. Following in the footsteps of his grandfather, Kyle got his start buying stocks and precious metals in his teens. This sparked his interest in learning and writing about cryptocurrencies. He started as a copywriter for Bitcoinist in 2016 before taking on an editor's role at BeInCrypto at the beginning of 2018.
Kyle migrated from the East Coast USA to South-East Asia after graduating from Pennsylvania's East Stroudsburg University with a Bachelor of Science degree in 2010. Following in the footsteps of his grandfather, Kyle got his start buying stocks and precious metals in his teens. This sparked his interest in learning and writing about cryptocurrencies. He started as a copywriter for Bitcoinist in 2016 before taking on an editor's role at BeInCrypto at the beginning of 2018.
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