“All higher and higher? Although Bitcoin (BTC) is in the consolidation phase after reaching a new record maximum of more than $ 126,000, many analysts expect that the cryptocurrency king will continue its growth. And their expectations will be supported by the Bitcoin Mayer Multiple configuration, a key indicator to evaluate whether BTC is purchased or underestimated. Since, according to […]”, – WRITE: Businessua.com.ua
All higher and higher? Although bitcoin (BTC) is in the consolidation phase after reaching a new record maximum over $ 126,000 many analysts expect the king of cryptocurrency will continue its growth . And their expectations will be supported by configuration Bitcoin Mayer Multiple key indicator to evaluate whether BTC is purchased or undervalued . Since, according to the latter, there is still enough space to grow before BTC is in a smokeing situation.
Key moments this article:
- Bitcoin recently reached a new historic maximum of more than $ 126,000, which has caused the expectation of new maxima.
- Bitcoin Mayer Multiple and MVRV-Z Topping Cloud is expected to increase BTC up to $ 180,000.
Bitcoin- Mayer index compares the btc price with its 200-day moving average (Ma200) to estimate if the current price of cryptocurrency overestimated or undervalued . In the case we will discuss now, this is more precisely Z-Evaluation of the Mayer, where the value, close to 1, indicates purchased the market, whereas value, close to -1, signals About underestimation . And the assessment, close to 0, considered neutral zone or an opportunity to buy for long -term investors.
According to the analyst Frank at x (@frankafetter), this Z-assessor may be a harbinger of new bull growth . To reach the upper level of this figure, about 1, and therefore indicate Development zone the price of bitcoin must first get closer to $ 180,000 as you can see below.
“Bitcoin [вже] At the historic maximum, but the Mayer index is still freezing. I like this scheme. “
Account x @frankafetter
The first step at $ 132,000 for BTC according to the indicator Bitcoin Mayer Multiple is not the only one that demonstrates Bull tendency for BTC. Analysts _Checkonchain (@_checkonchain) who also created a schedule above recently published a schedule on X using an indicator MVRV-Z TOPPING CLUD which reflects the relationship market value Bitcoin to realized value (MVRV) adjusted by Z-Index to highlight potential vertices of the cycle .
Given the current neutral MVRV-Z at level 0.14 (in the first zone below, marked with green), it indicates that bitcoin is not yet in the permeability zone unlike the previous cycles (December 2017 was in the red zone, and February 2021 in Orange). To even enter the blue zone, bitcoin should already reach the mark at $ 132,000 .
“[Індикатор] MVRV-Z Topping Cloud for bitcoin.
Its next threshold is $ 132,000.
Account x @_checkonchain
Thus, these indicators confirm the opinion of several analysts who believe that bitcoin is still far from reaching the final peak the current cycle. Such as financial experts Citi Bank that also predict that the price of bitcoin will rise to $ 181,000 in the coming months . However, remember that the indicators do not have the ability to predict the future, so let’s stay vigilant.
Source: Journalducoin.com
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