The toll of Bitcoin has doubled in the by 75 days, prompting some analysts to question whether the marketplace is approaching over-extension.

However, historical analysis from Bitcoin monitoring team CaseBitcoin suggests the Bitcoin markets could accelerate further, noting that BTC's "doubling time" — the time taken for cost to increase past 100% — shrunk down to only 12 days just earlier the pinnacle of the 2017 bull run.

CaseBitcoin notes the fastest doubling time recorded during the current market cycle was on Jan 7th, with BTC surging from $21,000 to $42,000 in just 22 days.

The firm suggests there are similarities betwixt January's market activity and that which occurred during August 2017 — the "middle period of the 2017 bull market." Back then, Bitcoin's price doubled over just 26 days to tag $5,000 for the first time, before slumping by 40% in the post-obit weeks. Speaking of the contempo run up, CaseBitcoin concluded:

"Generally, the last few months look like that middle flow of the 2017 bull market, with doubling times mostly under 100 days, but never nether 20."

"Information technology'll be interesting to see if doubling-times as fast as the end of the 2013 and 2017 cycles happen this fourth dimension around too," the analysts added.

Dorsum in 2013, Bitcoin's doubling time shrunk down to just 4 days inside one week of the bull flavour's peak.

Many analysts believe the current bull market place has more than room to grow, with the founders of crypto data aggregator Glassnode sharing data showing that the reject in Bitcoin's liquid supply — an estimate every bit to how many coins are freely circulating and not locked up by "illiquid entities" — has accelerated since the start of 2021.

The information also shows that Bitcoin's liquid supply has been falling significantly since April 2020, with Glassnode having estimated 78% of circulating BTC was already illiquid equally of December 2020.