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The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

Shiller P/E Ratio

Much of our commentary since the start of Bitcoin Magazine Pro has been in regards to the relationship between bitcoin and equities, and their reflection of the global “liquidity tide.” As we have previously discussed, given that the size of the bitcoin market relative to that of U.S. equities is minuscule (the current market capitalization of U.S. equities is approximately $41.5 trillion, compared to $452 billion for bitcoin). Given the trending market correlation between the two, it’s useful to ask just how over/undervalued equities are relative to historical values.



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