I would like for solid, reliable metrics to be developed to price bitcoin. I suppose because it is such a new asset these metrics have not yet been established. For now, the price is simply based on supply and demand by many parties on exchanges. That the use of the coin continues to break records despite a somewhat inflated price is quite telling about the potential of this asset.
I doubt that there could be metrics to developed on how to determine the price of bitcoin. Even exchanges has different prices, so yeah, trading volumes, supply and demand, and how much are people willing to buy is the deterministic factor.
in fact i think that bitcoin gain it value from itself and its features, this is a relatively unseen technology that suggest new ways to do things, basically it will benefits from continious boost that will allow it to follow a certain pattern and eventually this will stop being called hype.
Exactly, we haven't seen this technology, the market is fairly young so it is hard to at least weight this assets for now. Just 10 years in the making, but currently the best performing assets, what more can you ask for?