Following bitcion from $10 in 2013, it should really have only grown to about $20 at this point. Being that it has grown faster because of all the media from the $1000 bubble, you have to factor in accelerated growth. That is why I value bitcoins somewhere between $20-$100.
$20 may have been reasonable before the halving but it is clear that the half was not factored in just like we are not buying now based upon the 2016 halving.
We should be in the $300 range.