Crypto Analyst Predicts Bitcoin and Ethereum Price Peaks

A crypto analyst is predicting significantly higher prices for Bitcoin (BTC) and Ethereum (ETH) before the market turns bearish. Based on historical data, he believes both cryptocurrencies have further upside potential.

Bitcoin’s Potential

The analyst, Ali Martinez, uses the Mayer Multiple, a technical indicator, to gauge Bitcoin’s market top. This indicator compares Bitcoin’s current price to its 200-day moving average. Historically, when the Mayer Multiple exceeds 2.4, it has signaled the peak of Bitcoin bull markets. Currently, that 2.4 level translates to roughly $182,000. With Bitcoin currently trading around $98,772, Martinez suggests there’s considerable room for growth before a peak.

Ethereum’s Outlook

For Ethereum, Martinez is tracking the Market Value to Realized Value (MVRV) metric. This on-chain indicator helps determine whether investors are holding unrealized profits or losses. When the MVRV stays above 2.4 for about 6% of trading days, it often precedes profit-taking and a potential market top. Martinez notes that in past bull cycles, Ethereum has consistently surpassed an MVRV of 3.2. This currently equates to approximately $6,770, compared to its current price of around $3,072.

Disclaimer:
This information is for educational purposes only and is not financial advice. Investing in cryptocurrencies is inherently risky, and you could lose money. Always conduct thorough research and consider your own risk tolerance before making any investment decisions.
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