Is Bitcoin's Future Potential Explosive? Mayer Multiple Suggests $168,000 is Not Out of Reach!

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According to analyst Ali Charts, despite the recent decline in Bitcoin's price, the bullish trend remains intact.

The current price adjustment is seen as part of a larger market structure that could drive the cryptocurrency to the $168,000 range—this potential peak is derived using the Mayer Multiple (MM).

The Mayer Multiple is an indicator on Glassnode that calculates potential market tops and bottoms by dividing the current price of BTC by its 200-day moving average.

According to this indicator, the potential market top is at 2.4 MM (red line), which corresponds to approximately $168,494. Meanwhile, the bottom is at 0.8 MM (green line), which is $56,141.

It is worth noting that the Mayer Multiple is currently at 1.3, reflecting BTC's fair valuation, but it does not directly determine market direction.

However, with space to rise to the MM peak of 2.4, BTC could bounce back to $168,494, a level that would put it in the overvalued region.

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