Bitcoin Market Is In Bubble Phase, Says Economist on CNBC

Bitcoin remains up over 100% in the past six weeks despite the ongoing correction. Many think that BTC will continue higher in the weeks ahead. One market economist is bearish on Bitcoin, though. He says that the cryptocurrency is likely extremely overvalued at current valuations, arguing that it could be the biggest bubble in markets right now. Bitcoin Likely in Bubble Phase, Argues CNBC Guest Even after a correction from $34,000 to $32,500, Bitcoin remains up over 100% in the past six weeks. The cryptocurrency traded at new all-time highs on Friday as institutional capital continued to flow into BTC. Many in the space believe that this rally is predicated on strong fundamental trends such as the devaluation of the U.S. dollar. There has also been a large amount of Bitcoin accumulated by both retail and institutional players. Yet not everyone is convinced that the market will continue to shoot…

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