Bitcoin's current price and market behavior attract analysts' attention, especially regarding the Mayer Multiple — a key indicator for assessing its current value.
Mayer Multiple and Its Significance
The Bitcoin Mayer Multiple currently stands at 1.1x, indicating that the cryptocurrency is trading below the overbought zone, specifically under the 1.5x level. Axel Adler Jr., a CryptoQuant expert, notes that this figure is in a neutral zone and does not indicate an overlap with historical peaks. He adds: > "Today's Mayer Multiple indicates that Bitcoin is trading at a discount to its historical bull rallies."
Market Status: Bitcoin Price
As of the time of publication, Bitcoin's price is $108,954 with a 0.17% increase over the past 24 hours and 2.35% over the past week. The current trading volume for the same period stands at $22.97 billion. These figures follow a 90% annual increase, further underscoring that Bitcoin is within its historical valuation norms.
Analysts' Forecasts and Strategic Recommendations
Analyst CredibleCrypto comments on current price dynamics, suggesting that "the potential upward impulse may have already begun." He previously anticipated a possible drop to $102K but has noted Bitcoin's strong performance. "Downside is relatively limited from current levels," he writes. Analysts emphasize that data like the Mayer Multiple serves as auxiliary tools to assess market conditions and determine pricing potential.
The current situation surrounding Bitcoin and its Mayer Multiple provides grounds for discussions on the possibility of further growth. Analysts expect that price dynamics will continue to develop vigorously, especially considering the absence of signs of overheating in the market.
