Yesterday, BlackRock Strategist Richard Turnill said theres no inherent right or wrong Bitcoin price, no fair value.
This strategist's comment is so theoretical it's almost a joke.
There is a right and wrong Bitcoin price. The test of that is whether anyone in the world would accept a bitcoin for any price above face (right now). Most people would accept bitcoin for a small premium because they'll have faith that the price would soon pass their buy price, but it's only a small amount of premium that would be accepted.
Would you buy my 1 bitcoin for $10,000? No. You'd say "that's the wrong price!"
This strategist just doesn't know how to value a currency that isn't backed by the GDP of a country. That's all it is.