Bitcoin Valuation Fundamentals
Bitcoin has entered the mainstream, though not in a way that is particularly useful. Many, including myself, are calling a bubble in Bitcoin. As with many bubbles when the “mom and pops” and non-professional investors get into a buying frenzy, historically this has been associated with the last stages of a bubble. Momentum from individual buying may persist for some time, potentially in cycles of buying dips, so would not want to get short, without a strong view on sentiment...