Bitcoin is soaring again. On examining the market size and market share for bitcoin, the valuation is unwarranted by several orders of magnitude comparing to its mere utility value. On closer inspection, illegal price-fixing is going on – illegal in most parts of the world, anyway.
As of this writing, one bitcoin is trading for 142 US Dollars. Readers of this blog will remember that I estimated the endgame value of one bitcoin, if the currency succeeds, to be between 100,000 and 1,000,000 US Dollars. That estimation still holds.
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Bitcoin's overvaluation most likely linked to illegal price-fixing scheme
