BITCOIN $3K CHANCES ‘LESS PROBABLE’

in #steemit • 6 years ago

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 $6276.36 -0.32% 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

6 years ago in #steemit by
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