Inside the Crypto Recovery
Why Bitcoin is Still Underpriced
The value of Bitcoin famously crashed from almost $20k to a low of about $3,200 — a drop of nearly 84%.
Most of this is just normal Bitcoin market cycle: a series of 10x micro-bubbles followed quickly by short-term corrections before launching into another 10x burst. This is the nature of fast-growth cycles. The market does a double-take and reality check every time the asset grows another order-of-magnitude in value. Bitcoin has done this consistently on repeat since 2010.
Previous performance doesn’t always predict future performance, and this is just too much growth to be sustainable much longer, but as the Bitcoin network grows, it’s value as the security and final settlement layer of the internet of value is unfolding. How big could Bitcoin get?
The total addressable market for value transfer settlement is in the trillions of dollars per day. Bitcoin on-chain volume is currently hovering around $2.5 billion/day.
