New data suggests Bitcoin could see BTC price 'double bubble' top in 2021
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....
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With the bitcoin price hovering near $50,000, it appears a 2013-style "double bubble" is in the cards.
Cold hard numbers are showing why Bitcoin moons and dumps — and the reasons are more straightforward than you might imagine. Bitcoin (BTC) is still at the “low end” of a 2021 bubble, new data tracking miner and investor behavior suggests. In the latest signal that BTC price action still has major growth potential, researcher Geert Jan Cap showed bullish signs coming from Bitcoin’s thermocap. Thermocap suggests Bitcoin just getting startedThermocap is a metric which aims to track Bitcoin price cycles based on actions taken by miners and investors with regards to buying and selling BTC.It....
The price of bitcoin in October has shown signs of a double-bubble similar to the bull run in 2013, and speculators have been trying to guess the leading crypto asset’s top. On October 20, cryptocurrency market analyst Justin Bennett discussed bitcoin’s possible price floor after it reaches the top. Bennett suggests the end of this cycle could be between $207,000 and $270,000. Assuming bitcoin crosses $200K per coin, Bennett thinks the digital asset’s bottom after an 80% pullback will be around $50K.
‘2013 Vibes,’ ‘End-of-Cycle....
The bearish setup sees Bitcoin price crashing to as low as $25,000. Bitcoin (BTC) could be forming a so-called "double top" pattern after falling by over 30% from its record high of $69,000, suggests Peter Brandt, a veteran trader known for correctly calling the crypto market top in December 2017. The bubble has been popped. Bull market in $BTC over for some time. For analog look at Gold chart from 2011 on wards pic.twitter.com/AUSiGH0eCg— Peter Brandt (@PeterLBrandt) December 22, 2017 The Factor LLC CEO recalled Bitcoin's inability to extend its price rally above its previous all-time....
Bitcoin reclaimed the $19,000 level, but charts suggest BTC and altcoins may consolidate for a few days before starting the next trending move. Bitcoin price hit a new all-time high above $19,892 on Dec. 1. This is a significant event because it proves that the rally in 2017 was ahead of fundamentals but not a bubble. Generally, when a bubble bursts, it takes several years for the price to cross the high made during the bubble. For example, the Japanese stock market bubble came after a high was made way back in 1989, and that level has not been conquered yet. Similarly, silver’s high close....