Bitcoin’s price, currently hovering around $108,000, is sparking fervent discussions across the cryptocurrency sphere. The Mayer Multiple, a popular metric that gauges Bitcoin’s price relative to its historical average, suggests that the digital currency is undervalued, drawing attention from analysts and investors alike. This nuanced analysis is unfolding against a backdrop of relative market calm compared to previous bull market peaks.
Bitcoin’s Current Undervaluation
The Mayer Multiple, which divides the current Bitcoin price by its 200-day moving average, is a favored tool among crypto enthusiasts for its simplicity and effectiveness. At present, the Multiple indicates Bitcoin is trading at a lower valuation than seen at other peaks. “Bitcoin is less overheated than during past bull runs,” noted crypto analyst Jamie Wu. “This suggests there’s room for growth before reaching a market top.” As explored in our recent coverage of Bitcoin price will make history with $109K weekly, monthly close, the potential for a significant price milestone is on the horizon.
The consensus among market watchers is that Bitcoin’s price action might culminate in a significant surge by October 2025. However, the road to this potential ‘blow-off top’ isn’t without hurdles, with market sentiment remaining cautious amid regulatory uncertainties and macroeconomic factors.
Historical Patterns and Market Sentiment
Historically, Bitcoin’s price has been known to oscillate wildly, creating a rollercoaster of emotions for investors. Previous bull markets have seen Bitcoin prices soar to dizzying heights, only to plummet in the aftermath. Yet, this time around, the narrative feels different. With the current Mayer Multiple indicating a less frenzied market, there’s a growing belief that Bitcoin could sustain its upward trajectory longer.
“There’s less froth in the market now compared to the last bull cycle,” said blockchain strategist Emily Tran. “Investors seem more measured, possibly due to increased institutional participation and regulatory scrutiny.” The notion of a more mature market is echoed across forums and discussions, with many pointing to the increased adoption of Bitcoin as a hedge against inflation and economic instability.
Looking Ahead: October’s Potential Surge
As eyes turn towards October, speculators wonder if this is the calm before the storm. A potential blow-off top could see Bitcoin prices reaching unprecedented levels, driven by a confluence of factors including institutional investment, technological advancements, and perhaps a bit of market euphoria. This follows a pattern of market dynamics, which we detailed in Bitcoin teases ’brutal’ short squeeze as sellers protect $108K.
Yet, this anticipated surge raises questions about sustainability. Can Bitcoin maintain its momentum in the face of potential regulatory clampdowns? And how might geopolitical tensions influence its trajectory? These are the unknowns that keep analysts on their toes.
In the meantime, Bitcoin continues to capture the imagination of both seasoned investors and newcomers. Whether it’s the allure of digital gold or the promise of decentralization, Bitcoin’s journey is far from over. As the market navigates these uncharted waters, one thing remains clear: the cryptocurrency realm is as unpredictable as ever, offering both opportunities and challenges for those willing to take the plunge.
Source
This article is based on: Bitcoin Mayer Multiple shows $108K BTC price undervalued: Analysis
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
