Analyst: The current fair value of Bitcoin is between $48,000 and $95,000

News on February 7, according to CoinDesk, the latest analysis by CryptoQuant points out that the fair value of Bitcoin is between $48,000 and $95,000. This suggests that the current market price of Bitcoin may be overvalued.

The Bitcoin Network Activity Index launched by this analytics company shows that the index has dropped 15% since its peak in November, falling to 3760 points, which is the lowest level in more than a year. This decline is mainly driven by a significant reduction in daily trading volume. The trading volume plummeted 53% from a record high of 734,000 transactions set in September to 346,000 transactions.