Macro guru and Real Vision chief executive Raoul Pal is looking at the historical price action of e-commerce titan Amazon and comparing it to the performance of Bitcoin (BTC) since 2013. According to the macro guru, if Bitcoin is to follow Amazon’s price action in 2010, it is possible for the leading cryptocurrency to revisit crucial support at $30,000. Pal also adds that based on Metcalfe’s Law, Bitcoin’s value should be hovering around $100,000, suggesting that BTC is tremendously undervalued at its current price.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Bitcoin News Alerts | Daily BTC News