The past week was not all rosy, but the digital asset market has responded considerably to the beginning of Donald Trump’s new administration. Specifically, the price of bitcoin has survived an uncertain storm that clouds the cryptocurrency market in the past few days.
Although the highest cryptocurrency may have been slow recently, the latest on -fin observation indicates that BTC is likely to continue to move upwards. The way token prices have different legs over the next few weeks are as follows:
Is there any room for the growth of the BTC price?
In a post on January 24 of the X platform, Market Intelligence Company GLASSNODE explained that the price of bitcoin has not yet been overheated and there is a possibility of further growth in the next few weeks. The revelation of this on -character is based on the Mayer Multiple Indicator, which is calculated as the ratio of the ASSET price and the 200 -day moving average (200 DMA).
Mayer Multis measures the distance between the long -term average from the long -term average to estimate excessive sales conditions. This metrick is also used to establish macrobo or bear bias when analyzing periodic price movements.
Historically, Meyer shows the acquired market conditions and potential prices top when its value exceeds 2.4. On the other hand, MAYER Multiple Value, less than 0.8, suggests that it has been over -sold and may have the bottom of the market.
Source: Glassnode
According to Glassnode data, Bitcoin’s value is 1.37, indicating that the highest cryptocurrency is still far from the acquired territory. This data means that BTC still has room for further growth in this cycle. In addition, the price of bitcoin is at least 35 % higher than the 200 -day moving average. This is a bullish signal.
Glassnode emphasized that if the price of Bitcoin exceeds $ 180,000, you need to buy too much. This price level represents the potential peak of the current cycle flagship cryptocurrency, and may continue to be inverted. The excessive excessive value is 0.8, and the MAYER MULTHERS has a bitcoin price of about $ 60,000.
The price of bitcoin was not particularly impressive since it exceeded the $ 100,000 mark. This indicators provide some insights on the potential route of the best cryptocurrency over the next few months.
Bitcoin price at a glance
At the time of writing this article, the price of bitcoin is slightly lower than $ 105,000, and no important movements are reflected in the past.
BTC price in everyday time frame | Source: TradingView BTCUSDT chart
Special image of Istock, TradingView chart
