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 $6000Global 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!
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