More Than 70% Of Crypto Investors Think Bitcoin Is Undervalued
A Coinbase survey reveals over 70% of crypto investors believe Bitcoin is undervalued, with many seeing a late bear market phase.Summary
A recent survey by Coinbase and Glassnode indicates that over 70% of cryptocurrency investors consider Bitcoin to be undervalued. The survey, which polled 91 global investors (29 institutions and 62 non-institutions) between March 16 and April 7, found that 82% of institutions and 70% of non-institutions perceive the current market as being in a late bear or markdown phase. This represents a significant shift from December, when only about one-third held this view. Despite the bearish sentiment on market phase, valuation views remained consistent, with approximately 75% of institutions and 61% of non-institutions believing Bitcoin is undervalued. On-chain indicators, such as the Bitcoin Combined Market Index (BCMI) which aggregates MVRV, NUPL, and SOPR, also suggest that BTC is entering a "value-accumulation zone," historically associated with deep undervaluation. While selling pressure persists, data indicates limited downside risk compared to long-term upside potential.
(Source：Cointelegraph)