Overvalued Bitcoin Price Won't Score $40,000 in 2019: Chart Indicator

2019-6-25 17:33

Popular cryptocurrency figure Trace Mayer believes that Bitcoin's recent price gains may have peaked, at least in the medium term. Using his self-created Mayer Multiple, the Bitcoin maximalist this morning tweeted that there was very little chance of Bitcoin hitting $40k in the next couple of months.

The Mayer Multiple retrospectively tracks the boom and bust cycles of Bitcoin to give some indication of fair value. Consider it the speed at which Bitcoin's price moves away from its 200 day moving average (DMA). When price moves too far too fast, the likelihood of a correction is just around the corner.

The post Overvalued Bitcoin Price Won't Score $40,000 in 2019: Chart Indicator appeared first on CCN Markets

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bitcoin price mayer multiple too overvalued chart

Источник: ccn.com

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Latest data shows retail Bitcoin wallets can no longer control short-term BTC price moves

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Bitcoin Short-Term Holders Capitulate As 22K BTC Flow To Exchanges

The price of Bitcoin succumbed to bearish pressure and fell to around $65,500 on Friday, while the geopolitical tensions between the United States, Israel, and Iran seem to worsen. According to a recent on-chain evaluation, this latest price decline appears to have been triggered by a panic-driven sell-off among the market’s most sensitive investor group.

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