[FrancisMoodie]

Something I think people forget when it comes to the valuation of bitcoin is just how much of it is used to fund illegal activities (Betting, Drugs, anything on the darkweb,...). I honestly believe much of the valuation is linked to that, but I have no source or proof.

[r_lee]

No... problem is that most investors are flooded with liquidity/money (thanks to QE and the rallies) thus alternative assets like Bitcoin are being flooded with liquidity (see: Blackrock BTC ETF)

We only would see a real valuation if there was a sudden need for liquidations, or a loss in faith in value, which would need some kind of an event, either rapid liquidation or some sudden shift in sentiment

I'm guessing it will be part of a larger sell-off in Tech and BTC will be lumped in⁶