Bitcoin Price Key Indicator: $40k by December 2019 ‘Unlikely’ But $21,000 is ‘Fair Value’


Quick Facts:


  • Mayer Multiple puts the fair value of Bitcoin at $30,500 in June 2020
  • Bitcoin will finally take over the last peak by this year end, declared Trace Mayer, the Bitcoin Knowledge podcast host in his latest analysis on June 24.

“Mayer Multiplier” is the price forecasting tool used by the Bitcoin proponent Mayer who says the current trajectory should take Bitcoin price to $21,000 by December 2019. This will push the world’s largest cryptocurrency by market cap to move ahead of its peak hit in December 2017 at $20,000.

But “…very low probability of $40k in a few months,” Mayer said.

The Mayer Multiple is a calculation achieved by dividing the current price of Bitcoin by its 200 days moving average. Currently at 2.09, the metric puts the value of BTC at $10,633 this month which we achieved last week, only to take 24 hours to surpass $11,000, making a new 2019 high.

By September 2019, this metric puts BTC price at $15,000 that is overvalued only to find its fair value by December 2019 at $21,000.

Historically, the metric has only seen higher readings 14.79% of the time, this means a big jump to $40,000 is not expected to occur, “but with Bitcoin; anything can happen!”

At the time of writing, BTC/USD has been trading at $10,858 with 24 hours gains of 0.52 percent.

Once we end the month at a new all-time high, Bitcoin will gain momentum and per Mayer Multiple, climb to the “fair value” of $30,500 in June 2020. This will be around the time (a month after) of Bitcoin reward halving in May 2020.

Bitcoin (BTC) Live Price

1 BTC/USD =$58,245.9518 change ~ 0.22%

Coin Market Cap

$1.09 Trillion

24 Hour Volume

$25.37 Billion

24 Hour VWAP

$58.8 K

24 Hour Change

$130.73

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide