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I am bullish on BTC, but I have a genuine question to answer a friend who argues bitcoin is overvalued, can someone help form a response for me

I hope I don’t get downvoted into oblivion just for asking about this FUD, if someone knows its wrong I am happy to know why and put it to rest.

The friend is using this data [https://imgur.com/i78BTXg](https://imgur.com/i78BTXg) to argue that the recent value increase in bitcoin is artificial and only from stable coin printing unbacked by real fiat value, as retail interest is not increasing, and thus the BTC price will all collapse IF/when the stable coin company goes under (I am not saying this, they are)

I know this FUD has probably been addressed already here, but I haven’t been able to find an answer with a simple search, so for my and other noobs benefits, can someone counter it?



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Buy with a crypto

The Bitcoin Resuscitation