
Bitcoin is 'Cheap' at $20K
Jurrien Timmer, director of global macro at asset manager Fidelity Investments said "In other words, Bitcoin is cheap" and if Bitcoin is cheap then Ethereum is cheaper. Jurrien Timmer shared his views in a Twitter post on July 7. He used the price per millions of non-zero addresses as an estimate for Bitcoin’s valuation, and the chart below shows that valuation is all the way back to 2013 levels, even though price is only back to 2020 levels. In other words, Bitcoin is cheap.