Bitcoin: Undervalued Digital Assets - Revisited

Looking at Some of Our Favorite Names

Since our price check around 11 months ago, Bitcoin and other digital assets in our portfolio/watchlist have appreciated considerably.

For example:

Bitcoin's market cap has appreciated from $163 billion to $1.125 trillion, an increase of 590%.

Ethereum (ETH-USD): from $23 billion to $249 billion, an increase of 982%.

Uniswap (LTC-USD): from $2.8 billion to $16.7 billion, an increase of 496%.

Cardano (ADA-USD): from $1.4 billion to $42 billion, an increase of 2,900%.

Stellar (XLM-USD): from $1.3 billion to $13.5 billion, an increase of 938%.

Monero (XMR-USD): from $1 billion to $6.1 billion, an increase of 510%.

Tronix (TRX-USD): from $968 million to $9 billion, an increase of 830%.

Ethereum Classic (ETC-USD): from $782 million to $2.3 billion, an increase of 194%.

NEO (NEO-USD): from $695 million to $4.4 billion, an increase of 533%.

DASH (DASH-USD): from $695 million to $2.8 billion, an increase of 310%.

IOTA (MIOTA-USD): from $540 million to $5.6 billion, an increase of 937%.

Atomic Coin (ATOM-USD): from $482 million to $4.75 billion, an increase of 885%.

Zcash (ZEC-USD): from $420 million to $2.5 billion, an increase of 495%.

VeChain (VET-USD): from $267 million to $8.55 billion, an increase of 3,100%.

We see that many names have moved up notably, some by 500%, and some by over 1,000%. After such notable run-ups, it is more difficult to make a case for these digital assets being undervalued. Nevertheless, this does not mean that there isn't considerable upside remaining while the current bull cycle persists.

The Bottom Line

Source

The bull market in Bitcoin and in digital assets, in general, is alive and well. Extremely easy monetary policy is causing the Fed's balance sheet along with the U.S.'s monetary base to inflate notably. Such monetary policy in The U.S. and in other major economies is essentially causing the dollar and other fiat currencies to debase, which makes Bitcoin and other inflation-resistant digital assets appear more attractive. Additionally, the roughly $2 trillion valuation for the entire cryptocurrency complex is relatively small when compared to other major asset classes such as global stocks, global debt, money supply, or derivatives. Also, we have not seen a blowoff top in the digital asset market, nor have prices gone noticeably parabolic yet. Therefore, the current bull run is likely to continue, and based on our models, Bitcoin should hit a high of around $100-150K before this wave peaks.

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Disclaimer: This article expresses solely my opinions, is produced for informational purposes only, and is not a recommendation to buy or sell any securities. Investing comes with risk to loss ...

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