Bitcoin is Undervalued, Individuals Building on it Will Lead to Recovery

Over the last 48 hours, following a large loss on Christmas, the Bitcoin price has recovered back to around $4,000. The dominant cryptocurrency, which still holds a market valuation of over $64 billion, has demonstrated wild volatility in a wide price range from $3,100 to $4,300 throughout December, struggling to recover to November levels.

Last month, the cryptocurrency market was valued at around $220 billion. As of December 28, the valuation of cryptocurrencies remains at $133 billion, down $87 billion within a 30-day span.

Key to the Recovery of Bitcoin According to Francis Pouliot, the CEO and co-founder of Bull Bitcoin, a company based in Canada, the asset will recover as individuals continue to build on top of the protocol and the infrastructure supporting the currency strengthens.

Reference: https://www.ccn.com/investor-bitcoin-is-undervalued-individuals-building-on-it-will-lead-to-recovery/

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