The whole crypto space was in shock a few days ago when BTC witnessed a parabolic run that sent the coin above more psychological levels.
Now, BTC is trading in the green on CoinMarketCap, and the most important digital asset in the crypto space is priced at $8,077.19.
Experts have been saying that if the parabolic bull run continues and BTC will also be able to hit the $10k level, then we’ll be looking at FOMO unleased and a lot of institutional money pouring into the crypto space.
BTC is reportedly undervalued
Ethereum World News notes that at the moment BTC is undervalued and they point Microsoft as an important reason for their claim.
They wrote that Microsoft has announced that it’s creating a Decentralized Identity network (DID) using the Bitcoin (BTC) blockchain.
Microsoft, about the innovation
Here’s what Microsoft said about this innovation:
“We believe every person needs a decentralized, digital identity they own and control, backed by self-owned identifiers that enable secure, privacy-preserving interactions. This self-owned identity must seamlessly integrate into their lives and put them at the center of everything they do in the digital world.”
Following the announcement, BTC bulls pointed out that BTC is definitely undervalued at $8,000. Here’s Ran NeuNer’s tweet:
At $8000 the market is grossly underpricing the significance of the Microsoft news. For a tech giant of this magnitude to announce they are using BITCOIN is a probably the most significant announcements in this space to date. They have just endorsed BTC as a platform they trust.
— Ran NeuNer (@cryptomanran) May 14, 2019
BTC to head to $9,500?
Bitcoinist online publication addressed the parabolic run of BTC.
They write that if BTC is able to return to $8,200, it’s only natural to assume that the bulls will be making it even beyond and up to $9,500.
Fergus Reynolds joined Crypto Daily Gazette as managing editor in January of 2018 and is helping to lead the digital media startup’s next phase of expansion. A veteran business journalist with more than 10 years experience economics, Fergus has published content for Huff Post and Buzz Fee and was among the earliest journalists covering bitcoin and the innovations it later inspired. Fergus tells us he has “several” bitcoins.