During his most recent YouTube interview, the highly revered crypto expert highlighted on the flagship crypto strong fundamentals noting many indicators point toward price positivity for Bitcoin.
“There’s an immense amount of activity on the network between investors compared to the valuation,” Woo said, referring to data from Bitcoin’s NVT ratio, which shows blockchain network activity in relation to market capitalization.
“We haven’t seen any kind of mania,” Woo continued. “We dumped down from a level which was highly organic — no speculative premium,” he said. “The 2017 top, for example, we were
I think 3.8% higher than the organic evaluation.”
Consequently, the U.S. Treasury Secretary Lawrence Summers in a recent interview with Bloomberg Television gave his bias on what crypto assets might likely be in future, saying in spite of its price volatility it could be more of digital gold,” even if their importance in the world global economy diminishes
