fxstreet.com 11 Feb, 2021 13:45 am

Bitcoin price rally to record highs might resemble a bubble, but on-chain metrics disapprove

Bitcoin's jump this week has been incredible as, after spending most of January between $30,000 and $40,000, the bellwether cryptocurrency finally mad

" Lagarde has recently been very critical of the leading digital asset." Her opinion is that global regulation must be put in place to oversee the bellwether digital asset.A digital asset is considered to be overvalued when the value in circulation is significantly lower than its market cap.On the other hand, an undervalued digital asset will have a very high value transferred compared to the prevailing market valuation.

Bitcoin's jump this week has been incredible as, after spending most of January between $30,000 and $40,000, the bellwether cryptocurrency finally made the ultimate swing to another historical high, around $48,000.Speculation saw Bitcoin break above its former all-time high at $42,000 to achieve a new record high at $48,000.

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