RATE Group | Bitcoin Currently Severely Overvalued, Not Yet Ready For Moon
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Bitcoin Currently Severely Overvalued, Not Yet Ready For Moon

18 Feb Bitcoin Currently Severely Overvalued, Not Yet Ready For Moon

Posted at 02:27h in Bitcoin News by

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In less than two months’ time, Bitcoin price has gone from a low of $6,400 to well over $10,000 at the recent high.

The sudden surge in Bitcoin price has caused the first-ever cryptocurrency to outpace its fair market valuation, suggesting that a correction may be necessary to keep prices at bay a little while longer before a full bull market breakout occurs.

Bitcoin Not Yet Ready for Moon, Says Crypto Analyst

Bitcoin and the rest of the crypto market have had an incredibly bullish beginning to the new year.

The leading crypto asset by market cap itself is well up over 40% year-to-date, and many top-performing altcoins such as Ethereum and Tezos have risen by well over 100%, doubling in value.

Related Reading | Only Two Lines of Defense Remain Ahead of New Bitcoin All-Time High 

But as cryptocurrency valuations once again soar, they’ve already reached a level that is beyond their fair market prices, according to one cryptocurrency analyst.

In the trader’s detailed, long-term…

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