{"id":418776,"date":"2020-03-20T23:30:27","date_gmt":"2020-03-20T23:30:27","guid":{"rendered":"https:\/\/ktsl888.com\/?p=418776"},"modified":"2024-06-11T13:46:37","modified_gmt":"2024-06-11T13:46:37","slug":"this-key-data-metric-shows-bitcoin-is-significantly-undervalued-at-current-price-levels","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/this-key-data-metric-shows-bitcoin-is-significantly-undervalued-at-current-price-levels\/","title":{"rendered":"This Key Data Metric Shows Bitcoin is \u201cSignificantly Undervalued\u201d at Current Price Levels"},"content":{"rendered":"<p>2020 has been a turbulent year for Bitcoin and the aggregated cryptocurrency market, with the benchmark digital asset rallying to highs of $10,500 before facing a massive selloff that led its price to crater to lows of roughly $3,800.<\/p>\n<p>This capitulatory selloff has been followed by an intense rebound over the past few days, which has been further extended today as the crypto raced to highs of $6,900.<\/p>\n<p>Now, one key data metric is suggesting that Bitcoin is highly undervalued despite its rebound from its recent lows, which may signal that the crypto has significantly further room to climb in the days and weeks ahead.<\/p>\n<h2><strong>Bitcoin \u201cUndervalued\u201d According to Key On-Chain Data Metric<\/strong><strong>\u00a0<\/strong><\/h2>\n<p>At the time of writing, <a href=\"https:\/\/ktsl888.com\/2020\/01\/12\/this-same-trend-preceded-bitcoins-330-growth-2019-forms-again\/\">Bitcoin<\/a> is trading up marginally at its <a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" rel=\"nofollow\">current price<\/a> of $6,200, which marks a slight climb from daily lows of $5,900, but a notable decline from highs of $6,900 that were set at the peak of this movement.<\/p>\n<p>Although BTC has been able to buck the firm downtrend seen in the traditional markets over the past couple of days, the strength of its recent uptrend is unclear, and it still seems as though it may be prone to seeing further downside.<\/p>\n<p>In spite of this, data presented from Glassnode \u2013 an on-chain research and analytics firm \u2013 shows that Bitcoin\u2019s stock-to-flow deflection model elucidates that BTC is currently <a href=\"https:\/\/ktsl888.com\/2020\/02\/07\/research-firm-btc-fundamentals-strengthening-ahead-of-bitcoin-halving\/\">highly undervalued<\/a>.<\/p>\n<blockquote><p>\u201cStock to Flow deflection is the ratio of BTC&#8217;s price and the S2F model. When deflection is larger than 1, Bitcoin is overvalued according to S2F. With a current value of 0.73, Bitcoin is considered significantly undervalued,\u201d they noted.<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Stock to Flow deflection is the ratio of <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a>&#39;s price and the S2F model.<\/p>\n<p>When deflection is larger than 1, <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin<\/a> is overvalued according to S2F.<\/p>\n<p>With a current value of 0.73, Bitcoin is considered significantly undervalued.<\/p>\n<p>Live chart: <a href=\"https:\/\/t.co\/JuhZ8B2tE6\" rel=\"nofollow\">https:\/\/t.co\/JuhZ8B2tE6<\/a> <a href=\"https:\/\/t.co\/fUB7ZCKC4e\" rel=\"nofollow\">pic.twitter.com\/fUB7ZCKC4e<\/a><\/p>\n<p>&mdash; glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/73999107?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 20, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><strong>Could BTC Still See Further Downside Before Firm Uptrend Begins?<\/strong><\/h2>\n<p>In spite of being undervalued presently, it is still a possibility that the crypto sees some further near-term downside.<\/p>\n<p>TraderXO, a prominent cryptocurrency analyst and trader on Twitter, explained in a recent tweet that he believes BTC is positioned to see some near-term downside due to its strong rejection at its recent highs, which could lead it as low as the $4,000 region.<\/p>\n<blockquote><p>\u201cBTC Few charts flying around pointing straight to 9k. Here is one scenario I&#8217;m looking at &#8211; Targeting 6k, then 5.5 and possible we retest 4&#8217;s. The key for me is if price can hold at the weekly 200MA if we were to retest the level,\u201d he explained.<\/p><\/blockquote>\n<p>https:\/\/twitter.com\/TraderX0X0\/status\/34880000<\/p>\n<p>If the crypto\u2019s 200-day moving average is retested, an ardent defense of this level from bulls will be critical in order for the crypto to <a href=\"https:\/\/ktsl888.com\/2020\/03\/14\/the-last-time-bitcoin-investors-were-this-fearful-was-the-3000-bottom-in-2018\/\">rally higher<\/a> in the days and weeks ahead.<\/p>\n<pre>Featured image from Shutterstock.<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>2020 has been a turbulent year for Bitcoin and the aggregated cryptocurrency market, with the benchmark digital asset rallying to highs of $10,500 before facing a massive selloff that led its price to crater to lows of roughly $3,800. This capitulatory selloff has been followed by an intense rebound over the past few days, which has been further extended today as the crypto raced to highs of $6,900. Now, one key data metric is suggesting that Bitcoin is highly undervalued despite its rebound from its recent lows, which may signal that the crypto has significantly further room to climb in the days and weeks ahead. Bitcoin \u201cUndervalued\u201d According to Key On-Chain Data Metric\u00a0 At the time of writing, Bitcoin is trading up marginally at its current price of $6,200, which marks a slight climb from daily lows of $5,900, but a notable decline from highs of $6,900 that were set at the peak of this movement. Although BTC has been able to buck the firm downtrend seen in the traditional markets over the past couple of days, the strength of its recent uptrend is unclear, and it still seems as though it may be prone to seeing further downside. In spite of this, data presented from Glassnode \u2013 an on-chain research and analytics firm \u2013 shows that Bitcoin\u2019s stock-to-flow deflection model elucidates that BTC is currently highly undervalued. \u201cStock to Flow deflection is the ratio of BTC&#8217;s price and the S2F model. When deflection is larger than 1, Bitcoin is overvalued according to S2F. With a current value of 0.73, Bitcoin is considered significantly undervalued,\u201d they noted. Stock to Flow deflection is the ratio of $BTC&#39;s price and the S2F model. When deflection is larger than 1, #Bitcoin is overvalued according to S2F. With a current value of 0.73, Bitcoin is considered significantly undervalued. Live chart: https:\/\/t.co\/JuhZ8B2tE6 pic.twitter.com\/fUB7ZCKC4e &mdash; glassnode (@glassnode) March 20, 2020 Could BTC Still See Further Downside Before Firm Uptrend Begins? In spite of being undervalued presently, it is still a possibility that the crypto sees some further near-term downside. TraderXO, a prominent cryptocurrency analyst and trader on Twitter, explained in a recent tweet that he believes BTC is positioned to see some near-term downside due to its strong rejection at its recent highs, which could lead it as low as the $4,000 region. \u201cBTC Few charts flying around pointing straight to 9k. Here is one scenario I&#8217;m looking at &#8211; Targeting 6k, then 5.5 and possible we retest 4&#8217;s. The key for me is if price can hold at the weekly 200MA if we were to retest the level,\u201d he explained. https:\/\/twitter.com\/TraderX0X0\/status\/34880000 If the crypto\u2019s 200-day moving average is retested, an ardent defense of this level from bulls will be critical in order for the crypto to rally higher in the days and weeks ahead. Featured image from Shutterstock.<\/p>\n","protected":false},"author":499,"featured_media":415849,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1119,6664],"class_list":["post-418776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btc","tag-crypto"],"acf":[],"yoast_head":"\n<title>This Key Data Metric Shows Bitcoin is \u201cSignificantly Undervalued\u201d at Current Price Levels<\/title>\n<meta name=\"description\" content=\"One key data metric shows that Bitcoin is still undervalued following its rebound, signaling that it has further room to climb in the days and weeks ahead.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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