Breadwallet recently came up with idea that Bitcoin is in a bubble and it is gaining traction advising users how to recognize it.
“There is a very real chance that the pattern from 2011, early 2013, and late 2013 is about to repeat,” the wallet provider writes referring to the classic S-shape pattern of Bitcoin price growth.
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“If this happens, you will get to witness the fourth official ‘Bitcoin bubble’ over the next few months.”
Bitcoins huge price rise in recent weeks already has commentators concerned that the floor could soon give way, with Breadwallet’s guide appearing as a subtle acknowledgment.
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The guide states four aspects drawn from previous bubbles which it assumes will ring true should another occur.
Bitcoin major bull run has set a new all-time price high, mainstream media attention signals a run is “near the top,” and after a correction - no matter how huge - prices will “settle higher than the previous bubble’s top,” it continues.
Breadwallet predicts a maximum bubble price of $10,000 per coin this cycle.
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