Can $518 be considered a good price for Bitcoin?

ALFAcoins recently introduced ALFAquotes Fair Bitcoin Price indicator which determines what should be considered the true value of bitcoin by reasoning the cost of bitcoin mining, or the production of bitcoin itself.

ALFAquotes challenges what may be a fair price for bitcoin. Most traders of bitcoin buy and sell bitcoins for $259.46, whereas ALFAquotes shows that adequate price is almost twice that amount, at $518.59.

According to Denis Hertz, the project manager at ALFAquotes, the Fair Bitcoin Price indicator is an accurate indicator reflecting historical growth of bitcoin and its unexplored capacity. He said,

"Venture capitalists assign 'beyond the clouds' figures of $100,000. Financiers, that are far away from technology, say bitcoin has no intrinsic value. We decided to do the job of a fair price measurement that will help investors assess the attractiveness of bitcoin."

 ALFAquotes also consists an indicator to review bitcoin's potential, calculated by taking into account the difference between fair price and market price, now at +99.87%.

Hertz hopes that the fair price indicator will be extensively adopted to be used as a metric for market analysts, investors and mining companies.