Cryptocurrency News
‘Cheaper than it looks’: Fidelity exec says BTC undervalued and oversold
2022.06.16 08:00
‘Cheaper than it looks’: Fidelity exec says BTC undervalued and oversold
Jurrien Timmer, Fidelity’s director of global macro, has argued that Bitcoin (BTC) may be “cheaper than it looks”, highlighting evidence on Tuesday that the cryptocurrency may be both undervalued and oversold.
Addressing his 126,000 Twitter (NYSE:TWTR) followers, Timmer explained that while Bitcoin has fallen back to 2020 levels, its price-to-network ratio has reeled all the way back to 2013 and 2017 levels, which he said may indicate it is undervalued.
