BlockBeats News, February 6 — Charles Edwards, founder of the Bitcoin and digital asset quantitative fund Capriole, stated that bullish signals for Bitcoin are emerging. The Bitcoin Mayer Multiple has rarely fallen to around 0.6. Although there is still a possibility of further price declines, historically this range has often corresponded to one of the most attractive buying points in Bitcoin’s history.
BlockBeats Note: The Bitcoin Mayer Multiple is a technical indicator used to analyze the market conditions of Bitcoin, proposed by Trace Mayer. It evaluates the market’s relative valuation by comparing Bitcoin’s current price to its 200-day moving average (200-day Moving Average, 200DMA).
Historically, when the Mayer Multiple exceeds 2.4, it usually indicates an overheated market, which may lead to a correction or a bear market. When the Mayer Multiple is below 0.8, the market may be undervalued, making it a potentially good buying opportunity.
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