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Bitcoin [BTC] Prediction For 2019 : Key Price Indicator Suggests $21,000 USD As ‘Fair Price’.

In line with a recent ‘analysis report‘ revealed on Trace Mayer, the price of Bitcoin [BTC]  is unlikely to break the $40,000 USD benchmark in 2019.

While uploading new readings from his price forecasting tool, the ‘Mayer Multiple,’ the serial commentator and bitcoin proponent aforesaid that the present ongoing trajectory is ought to favour an end-of-year bitcoin worth of around $21,000 USD.

This, however is under the estimates of other renowned industry figures like Fundstrat’s ‘Tom Lee‘ who still places the leading ‘cryptocurrency‘ above of its record high set in December 2017.

The Mayer Multiple is a calculation achieved by dividing the present price of Bitcoin by its 200-day moving average. Presently at 2.09, the metric has solely seen higher readings 14.79% of the time, that simply means that a huge leap to $40,000 USD, specifically, is unwarranted.

“…Very low expectations of $40k within a few months,” Mayer added.

As ‘reported‘ earlier, Bitcoin succeeded in climbing back to its $10,000 USD price bench mark earlier this week, solely to go even beyond $11,000 USD within just 24 hours.

The performance buoyed analysts, several of whom thought-about $10,000 USD to be a watershed moment. Investors waiting on the sidelines, they argued, would get on board once the 5 figures values were reached, triggering a snowball upward price result.

At the reporting time, markets were however seeming to take a little break from the optimistic movement, with bitcoin presently trading at price around ‘$10,875.54 USD‘, which is around 2.14% higher than yesterday.

For the remaining year and beyond, however, the Mayer Multiple considers moves above $15,000 USD, $21,000 USD then $30,500 USD to be expected. The 1st of these would withal be ‘overvalued’ expected to hit by Sep, but thereforth, bitcoin would realize its price niche.

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