Is A Bitcoin Price "Double Bubble" Imminent?
With the bitcoin price hovering near $50,000, it appears a 2013-style "double bubble" is in the cards.The below is from a recent edition of the Deep Dive, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.With the price of bitcoin hovering near $50,000, momentum has returned to the market and strong hands have accumulated more bitcoin than ever. A 2013-style double bubble is in the cards. The 2013 cycle saw the price of bitcoin draw down 75% from the highs before....
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The "Bitcoin Bubble Index" is heavily hinting that another BTC price local peak will come this year. Bitcoin (BTC) is facing a “double bubble” and will see two price tops this year, fresh data suggests.In a tweet on Aug. 18, Charles Edwards, CEO of investment firm Capriole, highlighted 2021 as having one key similarity to the 2013 double top bull cycle.Bitcoin gears up for second peakBitcoin has divided opinion over whether its 2021 bull run is more like 2013 or 2017 — the other two years which immediately followed block subsidy halving events.Looking at one metric, unrealized profit and....
NFTs are all the rage at the moment. At the same time, some, including Mike Winklemann, AKA Beeple, have described the situation as a bubble. “I absolutely think it’s a bubble, to be quite honest. I go back to the analogy of the beginning of the internet. There was a bubble. And the bubble burst.” […]
Has the Bitcoin Value bubble burst? Looking at the most recent prices, we seem readier for a gentle nosedive than a new rollercoaster ride to the top. Many altcoins are heading down too: Litecoin, Peercoin and your beloved Dogecoin are all in a steady slide to the drain of the cryptocurrency world. But looking at the charts below, many would argue that Bitcoin is up for a new rise to 10,000 USD. This recent bubble wasn't the first bubble, and it won't be the last for Bitcoin. Bitcoin price in USD from begin 2013 to June 2014. You see that tiny top in April 2013? That was a bubble just like....
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Are we in the midst of a bitcoin bubble? Perhaps, but that doesn't necessarily mean prices are on the verge of collapse. And, bubble or no bubble, some analysts believe bitcoin still has room to grow. Former Wall Street analyst Henry Blodget says past price bubbles show that, in general, prices can rise much higher and bubbles can last much longer than most observers think. "Internet stocks, for example, were first described as a bubble in 1995, a full five years before the peak," Blodget writes on Business Insider. "And the amount of money made in those next five years made everyone who....