Suppose you are writing to explain bitcoin valuation to a freshman at the current institute.
1) Write an opening paragraph that explains what bitcoin is, as a currency.
2) Use one of the two alternative ways above, or if you like a third way based on material from the course and online data, to describe either the change in the fundamental USD value of a bitcoin or your best estimate of a fair USD price of a bitcoin. Make sure to explain your reasoning. If you need more than one paragraph to do so, write more than one paragraph.
3) In a final paragraph Critically assess the usefulness and limitations of the basic relationships from the course for the valuation of bitcoin.
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