Editor's Note: This article comes fromCybtc Blockchain (ID: cybtc_com), reprinted by Odaily with authorization.

Cybtc Blockchain (ID: cybtc_com)

Cybtc Blockchain (ID: cybtc_com)

, reprinted by Odaily with authorization.

Bitcoin is in a strong uptrend, giving investors a higher return on investment than any other asset on the planet. In just four years from 2017 to 2021, the price-earnings ratio of the cryptocurrency with the largest market value has reached 37 times. If it continues, Bitcoin price may rise more in the future.

Bitcoin up 37x since February 2017

Bitcoin is different from other assets. It bears the closest resemblance to physical gold but only exists in cyberspace, this crypto asset has been digitally encoded and its supply is limited to 21 million pieces.

In fact, in just four years, Bitcoin has traded at a price-to-earnings ratio of 37, as the chart below shows:

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Bitcoin is still in an ascending channel

For one thing, Bitcoin is practically worthless. The other four-year phases of Bitcoin's price action also delivered returns of 53x and 125x. Bull-bear transition cycles attract new participants each time.

Four years was chosen as the time sample because this is how often each block reward is halved. The halving event is built into the Bitcoin core code, a mechanism that reduces the amount of bitcoin miners receive for mining blocks on a four-year cycle.

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