Hey Ninjas. The market is green at the moment and as crypto enthusiasts, our inner mind wants an uptrend and not a downtrend. Right?
Bitcoin knowledge podcast host Trace Mayer declared that the price of Bitcoin is unlikely to break $40,000 in 2019.
He uploaded new readings from his crypto price forecasting tool the “Mayer multiple”, the Bitcoin proponent and serial commentator claimed that the current trajectory of Bitcoin should favor an end – of – year Bitcoin price of $21,000.
Even though the estimate of Trace Mayer is lower than that of other industry figures such as Fundstrat’s Tom Lee, the estimated price still sets Bitcoin ahead of its record high set in December 2017.
The calculation of the Mayer Multiple tools is achieved by dividing the current price of Bitcoin by its 200 – day moving average which is currently at 2.09, the metric only saw higher readings 14.79% of the time. With these reading, a giant leap to $40,000 is highly improbable, But the Mayer Multiple considers Bitcoin moves through $15,000, $21,000 and then $30,500 to be probable.
Do you think he is right about this Bitcoin predictions? Comment let’s discuss.