As Bitcoin Hits All Time High, Bitwise CEO Says There Are No Overvaluation Concerns Among BTC Investors: ‘..Llikely To Go Up Even Further’
Posted On November 10, 2024
Bitwise Invest CEO Hunter Horsley said on Saturday that there are no overvaluation concerns among Bitcoin investors despite the cryptocurrency hitting new all-time highs this week.
What Happened: “Bitcoin is different. When Bitcoin’s price goes up, people view it as more likely that it will succeed, and therefore be even more valuable. And so it’s likely to go up even further,” Horsley said.
With stocks, however, when the value rises, investors decide that it is overvalued at one point and become “less interested” until the price goes down, Horsely noted while adding that this “reflexivity” differentiates Bitcoin from other equities.
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