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Is the price of BTC to Low?

Is the price of BTC to Low?
  • Even though it is currently priced above the $9000 level, many enthusiasts believe that the price of bitcoin is lower than it should be. 
  • This is according to a Twitter poll posted by the CEO of Binance.

Even though it is currently priced above the $9000 key resistance level, many crypto enthusiasts in the industry believe that the price of bitcoin is lower than it should be. This is according to a Twitter poll posted by the CEO of the Binance platform, CZ.

Taking to Twitter at the start of the month, the CEO asked his followers whether the price of BTC is too low in their opinion. 62% responded with yes with 38% saying no.

More than 12,600 people voted in the poll with 62% of that believing that the price of bitcoin is below the real market price. This is a situation that could suggest a hype in the markets such as what happened in 2017.

In March when the price of the crypto space plummeted, bitcoin was able to start up another rally following the downturn. There are many assets that are yet to recover but when it comes to bitcoin, it is reporting gains of over 150% in just a month.

The leading cryptocurrency is currently waiting on it’s highly anticipated halving event in less than a week's time. The whole crypto world has his eyes on the currency as it gets closer to the date. There are many analysts that believe history could repeat itself and following the event, a new record in prices could be expected from this summer to the start of next year.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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