{"id":11227,"date":"2021-08-19T10:46:37","date_gmt":"2021-08-19T10:46:37","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/?p=11227"},"modified":"2021-08-19T10:46:37","modified_gmt":"2021-08-19T10:46:37","slug":"according-to-new-analysis-bitcoin-could-see-btc-price-double-bubble-top-in-2021","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/according-to-new-analysis-bitcoin-could-see-btc-price-double-bubble-top-in-2021\/","title":{"rendered":"According to New Analysis Bitcoin could see BTC price ‘double bubble’ top in 2021"},"content":{"rendered":"

The “Bitcoin Bubble Index” strongly suggests that another local BTC price high will occur this year.<\/span><\/p>\n

According to new data, Bitcoin (BTC)<\/a> is in the midst of a “double bubble” and will reach two price peaks this year.<\/span><\/p>\n

BTC Price Gears Up for the Second Peak<\/b><\/h3>\n

The question of whether Bitcoin’s<\/a> 2021 bull run will be more like that of 2013 or 2017 \u2014 the two years that followed block subsidy halving events \u2014 has divided opinion.<\/span><\/p>\n

The answer could be as simple as looking at one indicator, unrealized profit, and loss (UP&L). Only 2013 has delivered similar coin profitability statistics, according to Edwards.\u00a0<\/span><\/p>\n

He summarised, “New evidence for a Bitcoin double bubble.”<\/span><\/p>\n

\u201cBounces were never able to keep unrealized profit and loss above 0.5 in previous cycle tops. Only the double bubble of 2013 and now have done so.\u201d<\/span><\/p><\/blockquote>\n

<\/p>\n

This viewpoint also accommodates the widely used stock-to-flow pricing model, which calls for a BTC\/USD average of $100,000 or more this year. BTC price double-bubble top in 2021, PlanB, the project’s inventor, had stated that a “worst-case scenario” for Bitcoin would be $135,000 by the end of the year.<\/span><\/p>\n

Double bubble?<\/b><\/h3>\n

The findings aren’t the only ones that support the “double bubble” theory.<\/span><\/p>\n

The Bitcoin<\/a> Bubble Index, a dedicated tracking tool, also shows a two-phase price peak this year.<\/span><\/p>\n

To put things in perspective, the Bubble Index peaked at 119 on April 14, the same day that BTC\/USD achieved its current all-time high of $64,500. It currently stands around 110, almost identical to the peak, with Bitcoin<\/a> trading at $44,500.<\/span><\/p>\n

\"\"<\/p>\n

When Bitcoin<\/a> was nearing local lows of $29,000 in May, statistics from on-chain analytics startup Glassnode suggested that this year will be similar to 2013.<\/span><\/p>\n

Source: COINTELEGRAPH<\/a><\/p>\n

This Year, The Second Largest US Mortage Lender Will Accept Cryptocurrency Payments<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The “Bitcoin Bubble Index” strongly suggests that another local BTC price high will occur this year. According to new data, Bitcoin (BTC) is in the midst of a “double bubble” and will reach two price peaks this year. BTC Price Gears Up for the Second Peak The question of whether Bitcoin’s 2021 bull run will…<\/p>\n","protected":false},"author":11,"featured_media":11228,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[44,947,68,598],"class_list":["post-11227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-trading","tag-btc-price"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11227"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=11227"}],"version-history":[{"count":1,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11227\/revisions"}],"predecessor-version":[{"id":11229,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11227\/revisions\/11229"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/11228"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=11227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=11227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=11227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}