As always, I really like your well thought posts. According to you measure of choice - the Mayer Multiple - we are at historically low prices. However, when you look at the BTC Network Value to Transactions Ratio. The NVT Ratio seems to be at the highest since 2014 indicating that BTC could currently be overvalued. What are your thoughts about this measure? I have seen you using similar measurements to indicate that Bcash is over-valuated before.
I would really like your thoughts here.