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Bitcoin is facing a “double bubble” and will see two BTC price tops this year, fresh data suggests.
In a tweet on Wednesday, Charles Edwards, CEO of investment firm Capriole, highlighted 2021 as having one key similarity to the 2013 double top bull cycle.
“New evidence for a Bitcoin double bubble,” he summarized.
“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.”
In other trending Crypto News today: Facebook’s David Marcus calls for “fair shot” at crypto payments.
In a newly published Medium piece titled “Good stablecoins, a protocol for money, and digital wallets: the formula to fix our broken payment system”, Facebook’s crypto pioneer David Marcus shared his views on topics of economic inequality, regulatory challenges and Novi’s proposed stablecoin solution.
“Here at home in America, … our payments infrastructure is arguably the worst of any developed country in the world, and increasingly falling behind, while China is moving with determination and haste to build an infrastructure that will make the digital yuan a challenger to the dollar as the world’s reserve currency.”
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