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Bitcoin is overvalued fourfold, say Swiss scientists

The network of its users determines the real value of the cryptocurrency.

04.Apr.18 10:05 PM
By Mark Gainer


Bitcoin is overvalued fourfold, say Swiss scientists
Specialists from the Swiss Higher Technical School in Zurich found the answer to the question about the reasons for the incredible rise in bitcoin prices at the end of last year and its constant recession lately, writes an online edition of Swiss scientists argue that the cost of bitcoin determines the network of its users and that it is probably overestimated.

Researchers from Zurich found that the increase in the cost of bitcoin was due to the rise in the number of its users and showed that it was primarily a speculative bubble. The data of their analysis suggest that the current level of support for the bitcoin market ranges from $ 22 to $ 44 billion. This is at least four times less than the current market capitalization of the world's central cryptocurrency. According to scientists, this means that many months of unstable lateral trends in bitcoin prices are coming.

Note that recently the price of bitcoin fluctuates around 7 thousand dollars and since the beginning of this year it has fallen more than twice.

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