{"id":327403,"date":"2021-08-19T10:01:02","date_gmt":"2021-08-19T07:01:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/new-data-suggests-bitcoin-could-see-btc-price-double-bubble-top-in-2021\/"},"modified":"2021-08-19T10:01:02","modified_gmt":"2021-08-19T07:01:02","slug":"new-data-suggests-bitcoin-could-see-btc-price-double-bubble-top-in-2021","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/new-data-suggests-bitcoin-could-see-btc-price-double-bubble-top-in-2021\/","title":{"rendered":"# New data suggests Bitcoin could see BTC price &#8216;double bubble&#8217; top in 2021"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2884b584dc9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2884b584dc9\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/new-data-suggests-bitcoin-could-see-btc-price-double-bubble-top-in-2021\/#Bitcoin_gears_up_for_second_peak\" >Bitcoin gears up for second peak<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/new-data-suggests-bitcoin-could-see-btc-price-double-bubble-top-in-2021\/#Double_bubble\" >Double bubble?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># New data suggests Bitcoin could see BTC price &#8216;double bubble&#8217; top in 2021  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) is facing a \u201cdouble bubble\u201d and will see two price tops this year, fresh data suggests.<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/caprioleio\/status\/1427930326412705793\">tweet<\/a> on Aug. 18, Charles Edwards, CEO of investment firm Capriole, highlighted 2021 as having one key similarity to the 2013 double top bull cycle.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_gears_up_for_second_peak\"><\/span>Bitcoin gears up for second peak<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin has divided opinion over whether its 2021 bull run is more like 2013 or 2017 \u2014 the other two years which im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely followed block subsidy halving events.<\/p>\n<p>Looking at one metric, unrealized profit and loss (UP&amp;L), the answer may be simple. According to Edwards, only 2013 has produced similar results for coin profitability.<\/p>\n<p>\u201cNew evidence for a Bitcoin double bubble,\u201d he summarized. <\/p>\n<blockquote><p>\u201cIn prior cycle tops, bounces were never able to hold unrealized profit and loss above 0.5. Only the 2013 double bubble and today have achieved this.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/a1678ad5-6d1e-4842-a921-c437f736d8a1.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin unrealized profit and loss annotated chart. Source: Charles Edwards\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Such a perspective further accommodates the popular stock-to-flow price model, which demands an average BTC\/USD reading of $100,000 or more this year. Its creator, PlanB, previously gave an end-of-year minimum of $135,000 as a &#8220;worst-case scenario&#8221; for Bitcoin.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Double_bubble\"><\/span>Double bubble?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The findings are not the only ones arriving at the \u201cdouble bubble\u201d conclusion. <\/p>\n<p><strong><em>Related:\u00a0No, Bitcoin isn\u2019t entering a 2018-like bear cycle, new data suggests, as BTC targets $45K<\/em><\/strong><\/p>\n<p>Dedicated monitoring tool the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bybt.com\/pro\/i\/bitcoinBubble\">Bitcoin Bubble Index<\/a> likewise depicts a two-phase price peak this year.<\/p>\n<p>For context, the Bubble Index hit its all-time high of 119 on April 14, the time that BTC\/USD reached its current all-time high of $64,500. Currently, it measures 110, almost the same as the top, with Bitcoin sitting at $44,500.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/33c8b8f8-f63b-4614-b53f-5e13aef2d72c.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin Bubble Index vs. BTC\/USD chart. Source: Bybt<\/em><\/figcaption><\/figure>\n<p>In May, as Bitcoin was on its way to local lows of $29,000, data from on-chain analytics firm Glassnode likewise pointed to this year mimicking 2013.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/new-data-suggests-bitcoin-could-see-btc-price-double-bubble-top-in-2021\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# New data suggests Bitcoin could see BTC price &#8216;double bubble&#8217; top in 2021 &#8221; Bitcoin (BTC) is facing a \u201cdouble bubble\u201d 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&#8230;<\/p>\n","protected":false},"author":1,"featured_media":327404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvYzNiMWJhMGUtNDk1MS00YmM4LTk1M2YtNDc5ZjI0YTQ3NjkxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-327403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/327403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=327403"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/327403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/327404"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=327403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=327403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=327403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}