Crypto Blog
Bitcoin experienced significant price weaknesses over the weekend following the release of August nonfarm payrolls data, which fell below analysts’ expectations.
Per recent data, Bitcoin’s hashrate reached an all-time high of 679 EH/s. While this suggests that the network is more secure than ever, the analysts stated that the market seems to be undervaluing this fundamental aspect of the asset as evidenced by the pricing of this security—which is at a historic low.
“The world has spent the last 15 years slowly but surely embracing the concept of ‘digital gold’; if you believe that trend will continue , BTC seems grossly undervalued at the moment,” they said.
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