Drop the Beat

Chart of the Day

Timing is everything. The road to $40,000 has not been smooth, with China’s recent mining crackdown and other regulatory difficulties coming into play. Here’s the silver lining — with BTC price hovering around the $33,000 range, the Mayer Multiple stands at -0.76, indicating a positive signal for traders. Typically, the lower the Mayer Multiple results, the smaller the deviation of Bitcoin’s current price from its longer-term price trend. At -0.76, Bitcoin’s Mayer Multiple is lower than 87% of its price history.