Historical Trends Show Bitcoin Might Have Bottomed At $3,100
The Mayer Multiple, a measure conceptualized by diehard Bitcoin investor and evangelist Trace Mayer, seems to be signaling that BTC might have bottomed. As explained by analyst Crypto Kea, the multiple, which weighs the price and 200-day moving average (key support/resistance), recently passed 1.0 after falling to 0.51 on December 14th.
Kea claims that this simple fact “might have just indicated the bottom of this bear market.” The analyst looks to the fact that in previous market cycles, whenever the Mayer Multiple surpassed 1.0 after a capitulation event,…
Read Full Story : Ethereum World News