Is the price of Bitcoin undervalued by several thousand dollars?

Via reddit user u/ThePlagueDoctor0

[Editors Note: For the strong correlation previously seen between the Metcalfe Value and the price of Bitcoin to normalise; the price of Bitcoin needs to be somewhere in the region of $5,000 – $8,000 per coin.

If this chart holds some validity in estimating the current value of Bitcoin, right now Bitcoin could be trading at a extreme discount to its Net Asset Value (NAV)]

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