How could anyone decide on an appropriate price for Bitcoin when there's no fundamental intrinsic value to it? That lack of a fundamental value helps it increase because nobody can ever say when it's too high, but the inverse, that it's never too low is also true.
The fundamental intrinsic value(s) are that BTC can't be printed, second that transactions are unrestricted and borderless, and third that it's network effects, i.e size of user base.
How this translates to some price though is an open question though. :)
There's a first mover advantage that will always price out future investors, so it will keep retracing again and again. If you want something that has better intrinsic value rooted in utility, Cardano's the one.
And please, no one reply Ethereum is better than Cardano, when 2/3 of the globe can not afford GPUs. PoW mining is a losing battle.
