Bitcoin is both 'cheap' and a 'compelling' buy at $20,000, fresh analysis concludes.
) has not been this good value since it cost $1,130, one analyst argues as BTC offers a “compelling” risk/reward ratio.on July 7, Jurrien Timmer, director of global macro at asset manager Fidelity Investments, simply described $20,000 Bitcoin as “cheap.”While fears that crypto markets could suffer further drawdowns this year, some believe that current Bitcoin price levels offer the kind of value for money not seen in years.
At the time, BTC/USD managed to hit around $1,130 before spending several years consolidating thanks to the“I use the price per millions of non-zero addresses as an estimate for Bitcoin’s valuation, and the chart below shows that valuation is all the way back to 2013 levels, even though price is only back to 2020 levels,” Timmer explained.The Bitcoin price/network ratio is not the only encouraging sign when it comes to Bitcoin’s growth despite the current bear market.
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