For a second time this week only the pair BTC/USD is being pushed downward by the bears to the lows of $5,000.00 as per time of writing it is changing hands at $5,030.77 with a market cap of $88.7 bln and a rising volume transaction of $12.3 bln for the last 24-hours. Clearing below the important support of $5,200.00 which followed-up after not being able to overcome $5,400.00 opened gates for more losses during the week and tiring of buyers.
With Bitcoin’s native token price BTC against the US Dollar making it above $5,000.00 for the first time since end of 2018 [mid Dec] a wave of ‘rocketing’ predictions and positive sentiment took over the crypto-industry. Below a summary of the newest piece around BTC.
The Mayer Multiple, a measure conceptualized by diehard Bitcoin investor and evangelist Trace Mayer, seems to be signaling that BTC might have bottomed.