Grayscale: Valuing Bitcoin

Grayscale Investments’ research team unpacks a handful of supply-side and demand-side metrics to help investors think about BTC valuation. Demand indicators like Active Addresses and Daily Network Activity as well as Supply Indicators like Bitcoin Days Destroyed and Realized Capitalization are examined to reveal the current market structure is reminiscent of early 2016, the period that preceded Bitcoin’s historic bull run.

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