Tuur Demeester: Bitcoin is significantly undervalued right now

08 May, 2019
by Richard Allen
Tuur Demeester: Bitcoin is significantly undervalued right now

Tuur Demeester, founder and CEO of Adamant Capital, recently sat down with Peter McCormack on the latest episode of his WhatBitcoinDid podcast. According to Demeester, Bitcoin is significantly undervalued right now.

“If you look at the blockchain and the Bitcoin that is being moved and then compare it to the current price, you will get something that is called the unrealized profit and loss. There is an assumption that when BTC is moved it is sold, and this event is called a value realization event. It is just that the owner had the opportunity to liquidate their Bitcoin and that is why they took it.”

The Adamant Capital chief explained that Bitcoin is heavily influenced by psychological factors, resulting in its price rising and falling in conjunction with investor sentiment. Additionally, he notes that market sentiment changes depending on which way the data points.

“We have seen similar patterns during late 2013 and early 2014 where there was a lot of unrealized profits which again happened during the summer of 2017. The investor psychology was more inclined towards greed and when the bear market sets in, the positive sentiment obviously decreases. Once it is in the red, retail investors walk away which is what happened last November when BTC drooped from $6000 to almost $3000.”

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