В “Bitcoin Bubble Index” is heavily hinting that another BTC price local peak will come this year.
Биткойн (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 peak
Bitcoin has divided opinion over whether its 2021 bull run is more like 2013 или же 2017 — the other two years which immediately followed block subsidy halving events.
Looking at one metric, unrealized profit and loss (UP&L), the answer may be simple. According to Edwards, только 2013 has produced similar results for coin profitability.
“New evidence for a Bitcoin double bubble,»Он резюмировал.
“In 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.”
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, План б, previously gave an end-of-year minimum of $135,000 есть “worst-case scenario” для биткойнов.
The findings are not the only ones arriving at the “double bubble” conclusion.
Связанный: Нет, Биткойн не входит в медвежий цикл, подобный 2018 году, новые данные предполагают, поскольку BTC нацелен на $ 45 тыс.
Dedicated monitoring tool the Bitcoin Bubble Index likewise depicts a two-phase price peak this year.
Для контекста, the Bubble Index hit its all-time high of 119 в апреле 14, the time that BTC/USD reached its current all-time high of $64,500. В настоящее время, it measures 110, almost the same as the top, with Bitcoin sitting at $44,500.
В мае, 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.
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