overpriced only because a huge percent of bitcoin users don't understand it. not because it's not worth the current value. it jumps up rapidly because people are using only for a short term investment rather than knowing it's future applecations and revolutionary potential.
that's right people are slowly abandoning their short term investment.
Basically the prices are goind up because nobody wants to sell it (thinking that it will be worth 1 million USD by tomorrow morning), and the price is going down when some people are pissed off waiting for nothing ...
But the truth is that btc is over-valued right now, because you can't do shit with it.
It does not provide any improvement or advantages by using it over fiat.
Maybe in the future it will have some improvement, and find a reasonable price.
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