Bitcoin prices face the big favor

According to some price analysts, bitcoin prices may continue to rise for nearly nine months, rising by $3000.

Today, the price of Bitcoin is $6,279.33, a decrease of 3.77%.

People have long been eccentric about bitcoin price fluctuations. In Bitcoin historical price charts, from a few dollars to nearly 20,000 US dollars, from 20,000 US dollars all the way down to 10,000 US dollars, and finally squatting at 6000-8000 US dollars. Whether it is a bear market or a bull market, the worst fall is not more than 6,000, but it is over 9000.

Recently, the entire cryptocurrency has encountered an investment bubble and the overall market has fallen sharply. The value of the entire cryptocurrency market has evaporated by more than 80%, which is more serious than the Internet financial bubble of 2000.

How likely is bitcoin cryptocurrency to rise? Less shot to have $3000 increased.

In Twitter, a tweet that links to the "Mayer Multiple" price analysis tool, an entrepreneur said that although bitcoin fell to $3,000, the price seems to be full of possibilities, but fortunately, this possibility is Gradually decreases.

The Mayer Multiple divides the price of Bitcoin $6277.34 -0.01% 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.

However, this is not to encourage everyone to buy bitcoin. The investment risk of cryptocurrency is very high. Investors must think twice before buying, and can't listen to any price analysis articles.

He went on to say that in 2018, the situation of constant fluctuations in the bitcoin market is often seen, which is roughly equivalent to a multiple between 0.9 and 1.2.

According to this principle, in December 2018 and June 2019, the 200-day moving average may be $9,000 and $12,100, respectively, and the bitcoin price is $1,850 and $15,500, respectively.

While this will worry long-term investors, Mayer hints that he is good at lowering the price of each coin to less than $5,000 in the short term, in line with other well-known industry data such as BitMEX CEO Arthur Hayes. .

BTC / USD continued to hover around $6,500 over the weekend and remained flat for several days after a small rally approaching $6,000.

This rebound has had a significant impact on the altcoin market, with the leading ETH suddenly rising nearly 20%, after hitting a 15-month low.