Epoch 1 (2009–2012)

Return: ~500x

From a few pennies to ~$12

Bitcoin emerged from obscurity, traded peer-to-peer, and reached early exchange listings.

Epoch 2 (2012–2016)

Return: ~55x

~$12 to ~$650

The first halving cut block rewards from 50 to 25 BTC. Bitcoin slowly gained more infrastructure and media attention.

Epoch 3 (2016–2020)

Return: 13x

~$650 to ~$8,500

Institutions began paying attention. The ICO mania and 2017 bull run pushed Bitcoin near $20K before a crash.

Epoch 4 (2020–2024)

Return: ~8x

~$8,500 to ~$65,000

Institutional adoption accelerated. MicroStrategy, Tesla, and others entered. COVID stimulus fueled the rally.

Epoch 5 (2024–2028)

Return: 1.62x

$65,000 to ~$105,300

Nation States are entering the game. Bitcoin is shifting from a "hedge" to a strategic reserve asset.

What will Bitcoin's price be at the end of Epoch 5?