Bitcoin Price 'Bargain' Alert: Analysts See Unbelievable Value

Bitcoin's price has dropped to $77,155 as of September 1, which is 38% below its last all-time high near $126,080 set in October 2025.

This significant drop has led some analysts to suggest that Bitcoin is an unbelievable bargain right now. One way to determine the coin's valuation is to look at the average hash rate across different intervals, as a declining hash rate suggests the network will need to self-correct, which is most likely to occur when the coin's price is lowest.

By this metric, Bitcoin began to see major miner capitulation in late November 2025. The hash rate stayed depressed for one of the longest stretches on record, trading below its average production cost. Despite starting to edge slightly higher in August, the hash rate remains about 33% below its September 2025 peak.

Another way to look at Bitcoin's valuation is by considering its energy value, a fair-value estimate built using estimates of the electrical energy miners are obligated to pour into the network to produce more coins. According to Capriole Investments founder Charles Edwards, Bitcoin was trading about 40% below its energy value in July, which is still a significant discount today.

Edwards' data suggests that such large gaps between the coin's price and energy value have tended to close by the price massively overshooting the energy value in past market cycles. This could indicate that Bitcoin is actually priced at a bargain right now.