ECB Report Highlights Bitcoin's Unpredictable Market Value

According to PANews, a recent report from the European Central Bank (ECB) indicates that Bitcoin's market value currently ranges between $50,000 and $60,000. However, the report suggests that any Bitcoin price is equally possible, including values as high as $10 million or more, due to the lack of specific economic rationale or intrinsic value supporting these prices. This implies that the ECB views Bitcoin's pricing as lacking a reasonable basis in traditional economic terms, highlighting its significant volatility and unpredictability.