Odds of Bitcoin Price Hitting $3K ‘Getting Less Favorable,’ Says Trace Mayer

Odds of Bitcoin Price Hitting $3K ‘Getting Less Favorable,’ Says Trace Mayer
фото показано с : bitcoinist.com

2018-9-17 19:00

Bitcoin price could continue dropping for up to another nine months and hit $3000, cryptocurrency investor and media personality Trace Mayer forecast September 16.

Bitcoin $3k Chances ‘Less Probable’

In a tweet linking to his so-called ‘Mayer Multiple’ price analysis tool, the entrepreneur said that while a $3000 price tag for Bitcoin would be “hopeful,” the odds of it happening were now decreasing.

The Mayer Multiple divides the price of Bitcoin 00 on any given day by the 200-day moving average, the result of which offers insight into whether to buy, sell or HODL bitcoin.

A reading below 0.9 suggests a “strong buy,” the price being “very undervalued.” On September 17, the Multiple was 0.85.

“Perhaps (the Bitcoin) crypto-winter will last 6-9 months longer (hopefully!), touching $3k, but probabilities are getting less favorable of that possibility,” Mayer commented on Twitter.

Perhaps $BTC crypto-winter will last 6-9 months longer (hopefully!), touching $3k, but probabilities are getting less favorable of that possibility.

What would a boring Q32018 & 2019 look like w/ usual daily price increase of 0.51% & @TIPMayerMultple between 0.9-1.2x? Thoughts? pic.twitter.com/0K1CvUoZ0y

— Trace Mayer (@TraceMayer) September 16, 2018

The Multiple’s dedicated web page adds a disclaimer that it indices themselves do not “tell” users whether or not to buy or sell Bitcoin.

A Modest $15.5k?

A continuation of the ‘slow bleed’ scenario often seeing in Bitcoin markets in 2018 would correspond to a Multiple of between 0.9 and 1.2, he continued.

According to that principle, for December 2018 and June 2019, the 200-day moving average could read around $9000 and $12,100, and the price of Bitcoin $9850 and $15,500 respectively.

While this would buoy long-suffering investors, Mayer hints he favors a deeper drop below $5000 per coin in the near-term, echoing the sentiment from other well-known industry figures such as BitMEX CEO Arthur Hayes.

BTC/USD had continued to hover just short of $6500 over the weekend, continuing several days of flat performance after a slight rebound from closer to $6000.

That rebound had had a conspicuous effect on altcoin markets, with leader Ether (ETH) suddenly gaining almost 20 percent after setting lows not seen for over 15 months.

What do you think about Trace Mayer’s predictions? Let us know in the comments below!

Images courtesy of shutterstock, twitter

The post Odds of Bitcoin Price Hitting $3K ‘Getting Less Favorable,’ Says Trace Mayer appeared first on Bitcoinist.com.

origin »

Bitcoin (BTC) на Currencies.ru

$ 83265.49 (+0.35%)
Объем 24H $55.012b
Изменеия 24h: 5.01 %, 7d: -4.88 %
Cегодня L: $82789.04 - H: $83265.49
Капитализация $1651.614b Rank 1
Цена в час новости $ 6319.2 (1217.66%)

bitcoin price mayer odds trace less 3000

bitcoin price → Результатов: 126


The Fed is expected to cut interest rates twice in 2025, what might this mean for the Bitcoin price?

The cryptocurrency market has gone mainstream. It is no longer retail investors’ assets as institutions globally are investing in Bitcoin and other major cryptocurrencies.   As a risk-based asset, Bitcoin’s price is affected by central bank policies, especially those from the United States Federal Reserve.

2025-2-18 15:05


Bitcoin Price Remains Bullish As Monthly Stochastic Sits Above 80, Here’s Why

The Bitcoin price has struggled to break above the $100,000 threshold decisively over the past four weeks, largely fluctuating within the $90,000 to $100,000 range. This correction and lackluster price action have caused a degree of bearish sentiment among traders, with some speculating that Bitcoin might have already reached its peak for the current cycle. […]

2025-1-15 18:30


Extremely Bullish 88-Day Structure Appears On Bitcoin Price Chart After Hitting $105,000 ATH

The Bitcoin price has continued its foray above the $100,000 threshold and is currently trading around new all-time highs. Following its recent surge to an all-time high (ATH) above $106,000, the Bitcoin price has played out an interesting pattern on the 1-day candlestick timeframe, which points to an extremely bullish outlook for the leading cryptocurrency.

2024-12-16 11:30


Are Bitcoin Whales Still Holding For Higher Profit? This On-Chain Signal Suggests So

The Bitcoin price performance in 2024 is one for the history books, with the premier cryptocurrency crossing the $100,000 mark for the first time ever. However, hitting this milestone opened the door to another conversation — when will the market top be in? As a result, several predictions of the Bitcoin price top have emerged […]

2024-12-15 12:30