Analyst: An analysis model based on gray bitcoin trust shows that bitcoin prices are still overvalued

Although Bitcoin (BTC) is still not clearly on the rise, its performance is much better than earlier this week. On August 19th, industry fund manager and cryptocurrency analyst Timothy Peterson analyzed the model, Bitcoin is still overvalued. The model links the Grayscale's Bitcoin Trust premium to the value of Bitcoin, and the results show that the reasonable transaction price of Bitcoin should be between $8,000 and $10,000. Based on this model, Peterson found that since the beginning of the year, the higher the premium of the Bitcoin Bitcoin Trust on the Bitcoin spot, the higher the spot price of Bitcoin. According to his analysis, the current premium is gradually decreasing, so the price discrimination of Bitcoin is overestimated.