See the decreasing angles in the trend line for each bull run and how it relates to the supply and demand curve as well as the differential analysis of the supply and demand curve with respect to the rate of time passing on the market. We entering into a time of decreased volatility . If you zoom out, the volatility has decreased greatly each year hand over foot. Pretty soon BTC will be regarded as the best reserve currency. If the GDP of a country is what reaffirms the stability and trust of its currency on the world markets, then the accumulating transfer of wealth from the fiat economies to the cryptocurrency economies over the last 12 years with respect to BTC makes the BTC the US dollar / gold of these economies and as its Market Cap ( aka GDP) grows the more it will be regarded as reserve currency and not a currency in the traditional sense. The satoshi will the cryptocurrency of the world.