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Benjamin Cowen: Crypto Hasn’t Been This Cheap Since 2010, But It Might Drop Lower

Benjamin Cowen: Crypto Hasn’t Been This Cheap Since 2010, But It Might Drop Lower

Crypto has not been this cheap relative to its long-term trend since 2010, according to Benjamin Cowen. Still, the Into The Cryptoverse founder warns that the bottom is not in yet.

Cowen, a member of BeInCrypto’s Markets Intelligence Council, expects one more leg down in the third quarter. He points to midterm-year seasonality and rising bond yields as the likely triggers.

Crypto is 62% Below Fair Value, the Cheapest Since 2010 In two new videos, Cowen measured the total crypto market cap against his logarithmic regression trendline. The gap has never been wider in the asset class’s tradable history.

The total market cap stood at $2.152 trillion on July 31. Meanwhile, the model’s fair value sat at $5.737 trillion, leaving crypto 62.49% undervalued. Valuation vs Trendline. Source: YouTube The market now trades at 37.52% of fair value.

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Yes, most public blockchains (like Bitcoin and Ethereum) are transparent. Transactions can be traced back to public keys and wallet addresses, meaning that while they are pseudonymous (names are not directly tied to addresses), they are not completely anonymous.

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