Analyst Venturefounder tweeted that the actual price of Bitcoin is the value of all Bitcoins at the purchase price divided by the number of Bitcoins. This is the average cost basis to buy all Bitcoins. $21,700 is the actual price of Bitcoin right now.
Bitcoin has traded below its actual price only a few times in its history, each time during a bottoming period near the bottom of the cycle.
Bitcoin was above the actual price during the $25,000 rally and then back below it, currently generally less than the actual price, Bitcoin is undervalued for long-term investors, another interesting thing to note is that during the 2018 cycle In , Bitcoin bottomed out at a 30% discount to the realized price.
The closest discount to the actual price this cycle was 16%, and now a 30% discount to the realized price would bring Bitcoin to $15,000.