Capriole’s Charles Edwards Claims Bitcoin Fair Value is $130K
Charles Edwards, founder of Capriole Investments, argues that Bitcoin is undervalued at current levels. Key points include:
- Recent rally from $80,000 to nearly $94,000.
- Energy Value indicator suggests fair value around $130,000.
- Mining costs average $96,000 per Bitcoin, indicating a minor discount at current prices.
US Federal Reserve Announcement
The US Federal Reserve lifted restrictions on banks regarding crypto activities, allowing them to engage in crypto under standard supervisory processes. This may enhance institutional adoption and liquidity for Bitcoin.
- Banks can now support Bitcoin without pre-approval.
- Regulatory easing may prompt banks to expand crypto offerings.
Bitcoin (BTC) Price Analysis
Bitcoin is trading around $93,717, near key technical levels that could influence price movement:
- Hovering above Fibonacci levels and a high-volume node between $93k and $103k.
- Recent surpassing of silver and Amazon in market valuation.
- Next target potential at $103k if support holds.
- Strong bullish momentum indicated by RSI near 67 and MACD bullish crossover.
- Sustained movement over $103k could signal a target of $120K–$130K.
BTC’s Daily Chart | Source: TradingView
ARK Invest’s Long-Term Prediction
ARK Invest projects Bitcoin's bull case target at $2.4 million by 2030, citing strong institutional interest. The base case is set at $1.2 million, indicating a potential for exponential growth in the coming years.