An expert in cryptocurrency trading predicts that both Bitcoin (BTC) and Ethereum (ETH) still have room to grow in this market cycle before a potential downturn.
Crypto trader Ali Martinez shares with his 120,000 followers on X that he is closely monitoring Bitcoin’s Mayer Multiple to determine when BTC might reach its peak.
The Mayer Multiple is a technical tool that compares the current BTC price to its 200-day moving average to assess whether Bitcoin is overvalued or undervalued.
Martinez notes that historically, the Mayer Multiple has accurately identified Bitcoin’s market tops, with each peak occurring above the 2.4 oscillator level. Currently, this level indicates a potential peak near $182,000, suggesting that BTC still has room for growth.
As of now, Bitcoin is trading at $98,772.
Regarding Ethereum, Martinez is monitoring ETH’s Market Value to Realized Value (MVRV) pricing band, a metric used to assess unrealized profits or losses. If the MVRV pricing band remains above 2.4 for an extended period, it could indicate a cycle top.
Martinez points out that in each bullish cycle, Ethereum has exceeded the 3.2 MVRV Pricing Band, which currently stands at $6,770.
At present, ETH is trading at $3,072.
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Image Credit: Midjourney
