“Bitcoin could reach $168,000”

Mayer Multiple, a common price indicator, shows that the Bitcoin ($BTC ) price will continue its upward movement.

BTC, which rose above $100,000 for the first time on December 5, has not been able to achieve stability since that date. BTC, which has not been able to maintain above $100,000 for weeks, has started to exhibit a negative outlook with the increase in selling pressure.

Crypto analyst Ali Martinez made a striking comment for Bitcoin. In the analysis, it was stated that Mayer Multiple (MM), a potential bullish indicator, points to $168,000.

MM calculates potential market tops and bottoms by dividing BTC's current price by its 200-day moving average.

In the MM metric, the potential top of the market is shown as 2.4 MM (red line). The level in question touches $168,494. The bottom level of the indicator was defined as 0.8 MM (green line) or $ 56,141.

The analysis included the following statements: “The MM indicator, which is currently at 1.3, indicates a potential recovery for BTC. However, it should be remembered that the indicator does not directly determine the market direction.”

#Bitcoin (BTC) continues to attract market demand despite the recent declines. Crypto analysts predict that BTC will return to above $ 100,000.

Institutional and large-scale investors play an important role in BTC's progress. According to the latest data, institutional investors have increased their risk appetite as BTC regains popularity.

AMBCrypto noted the following: “This buying trend could further strengthen BTC's position in mainstream financial markets and positively affect its trajectory.”

According to AMBCrypto's analysis, a possible drop to the $ 90,000 region could allow BTC to reach higher levels.