this post was originally published By HexaTra.com
The bitcoin price is wrong
Bitcoin’s fair value, given the number of active wallet addresses, usage per account and factors influencing supply, is between $13,800 and $14,800, he said in a note Thursday. His explanation for the divergence includes last year’s meteoric rally, a “meltdown” in the macroeconomic climate and treasury sales during initial coin offerings.
User adoption and Bitcoin’s acceptance as an asset class are the key factors that will drive it higher beyond 2018. If bitcoin wallets approach just 7 percent of Visa’s 4.5 billion account holders, fair value would be $150,000 per bitcoin according to his model, he said.
This post was originally published on HexaTra.Com http://hexatra.com/the-bitcoin-price-is-wrong/