I feel like BTC at $8000 is still overpriced. Due to high fees and slow confirmations, it's not really suitable for payments. SegWit seem like just a hack to me. I know we are all Bitcoin optimists here at the forum but is anyone thinking that Bicoin is gonna go down to $1000 level in the next 5 years?
Overpriced? how did you say so? Ok, think about this my friend; I am gonna give you some examples of real overpriced:
- iPhone
- Mercedes Benz
- Ducati
- LV
The materials used to produce these items were never really expensive, but since the ads and the branding were so damn awesome, people believed that the price is right.
Now, lemme tell you something you might wanna ponder; before you can produce a satoshi, you need rigs, powers, gpus, and etcetera... sum this and you will realize the real value of bitcoin. Now, the demands add up profit to it. The more people wants it, the higher we can bid.
That's how you analyze "overprice".