Bitcoin Price Drops Below Network Value for the First Time in Two Years

Bitcoin (BTC) experienced a significant rebound, surging above $93,000 after a recent correction that saw it dip to around $83,000. Economists are noticing a pattern in Bitcoin’s price movement. Famous economist Timothy Peterson highlighted a unique situation where the recent drop in BTC’s price caused its value to fall below its network value (Metcalfe) for the first time in two years. According to Peterson, this is often an indication of market resets and a potential sign of a Bitcoin recovery.