The many Bitcoin prices
Updated
Ever wandered about how many BTC are in circulation? And how it's price would change if we took this into account?
I searched a little if there is a ticker in here that tracks it but didn't bother. Instead I did the comparisons in Excel.
The BTC price has many sides...
Orange Line: Absolute BTC Price - Now $16,680
Blue Line: BTC divided by it's total supply - Today approximately $3,034
Green LIne: BTC /Supply divided by the Dollar Supply - Today approx. $1,216
Grey Line: BTC /Supply divided by Gold - $2.029
Do note that I made all the charts start in the exact same spot. They should have an identical starting point for them to follow a trajectory that makes sense.
So what is the difference?
BTC at it's bottom was $0.50 in July 2009 and reached the peak of $68997.75 in November 2021.
This translates to an increase of 1,364,501x
BTC /Supply however reached a maximum of 248,723x which is more than 5 times less.
If we further divide by M2SL , this number goes to 101,334x a further 50% decrease. ( BTCUSD /SUPPLY/ M2SL )
Gold doesn't change it's that much, to 161,646x. ( BTCUSD /SUPPLY/ GOLD )
I didn't bother adding charts for BTCUSD / M2SL , BTCUSD / Gold since they are easy to do in TradingView.
This shows us the effect of scarcity in commodities like BTC . BTC supply grew faster than the price. If you look at this link you will see a chart of the supply. It grew fast and now has almost halted. So what effect will this have in the price? Who knows, maybe BTC has 5x room to drop further in the following years, reaching sometime in the future an "equilibrium" lower from here.
I wouldn't expect something such extreme as 3k, more like 7-8k would be a random guess. Who knows however what the future holds!
BTC Supply
bitcoinvisuals.com/chain-supply
I will add below one close-up chart.
Tread lightly, for this is hallowed ground.
-Father Grigori.
I searched a little if there is a ticker in here that tracks it but didn't bother. Instead I did the comparisons in Excel.
The BTC price has many sides...
Orange Line: Absolute BTC Price - Now $16,680
Blue Line: BTC divided by it's total supply - Today approximately $3,034
Green LIne: BTC /Supply divided by the Dollar Supply - Today approx. $1,216
Grey Line: BTC /Supply divided by Gold - $2.029
Do note that I made all the charts start in the exact same spot. They should have an identical starting point for them to follow a trajectory that makes sense.
So what is the difference?
BTC at it's bottom was $0.50 in July 2009 and reached the peak of $68997.75 in November 2021.
This translates to an increase of 1,364,501x
BTC /Supply however reached a maximum of 248,723x which is more than 5 times less.
If we further divide by M2SL , this number goes to 101,334x a further 50% decrease. ( BTCUSD /SUPPLY/ M2SL )
Gold doesn't change it's that much, to 161,646x. ( BTCUSD /SUPPLY/ GOLD )
I didn't bother adding charts for BTCUSD / M2SL , BTCUSD / Gold since they are easy to do in TradingView.
This shows us the effect of scarcity in commodities like BTC . BTC supply grew faster than the price. If you look at this link you will see a chart of the supply. It grew fast and now has almost halted. So what effect will this have in the price? Who knows, maybe BTC has 5x room to drop further in the following years, reaching sometime in the future an "equilibrium" lower from here.
I wouldn't expect something such extreme as 3k, more like 7-8k would be a random guess. Who knows however what the future holds!
BTC Supply
bitcoinvisuals.com/chain-supply
I will add below one close-up chart.
Tread lightly, for this is hallowed ground.
-Father Grigori.
Note
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