Bitcoin, after roaring to around $60,000 per bitcoin in March, has plateaued in recent weeks. The bitcoin price has added almost 500% since its latest bull run began in October 2020, pushed on by bullish Wall Street banks and the likes of Tesla billionaire Elon Musk. Now, Wall Street giant BNY Mellon has called the controversial bitcoin stock-to-flow model that predicts bitcoin hitting $100,000 in July “worth understanding” in a new report.
Read about the new report by Wall Street firm, BNY Mellon which says that Bitcoin’s stock-to-flow ratio is one of the more interesting valuation concepts and is worth understanding despite its flaws on Forbes.
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