$BTC

The price of Bitcoin has experienced five significant peaks since it was created in 2009. To date, the cryptocurrency has had an all-time high of approximately 64,000 USD and a widespread increase in its adoption. The process has been volatile, often reacting to political, economic, and regulatory events.

Bitcoin has experienced, on average, a growth of 200% per year. As of now, August 2021, the market capitalization of Bitcoin is approximately 710,000,000,000 USD, and its dominance in the crypto market is slightly below 50%.

Events such as the hacking of the Mt. Gox exchange in 2014 and the stock market crash of 2020 can account for certain short- and medium-term price behaviors. In the long term, you can gain a macro perspective by looking at models that use technical, fundamental, and sentiment analysis.

For technical analysis, the Logarithmic Growth Curve of Bitcoin and the Hyperwave Theory are two interesting models. The Hyperwave Theory also relates price to investor sentiment during cyclical phases. Regarding fundamental analysis, the Stock to Flow models and Metcalfe track the price of Bitcoin reasonably well. Ultimately, one can use a combination of all these methods to obtain a balanced view.

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