My guess is that this year's MitTop is likely to be $45,000. I will now explain my reasoning. 1. the Puell Multiple suggests a positive trend Puell Multiple is an indicator calculated by comparing the moving average of Bitcoin production (mining fees) over the past 30 days. When this indicator is high, it indicates a high price for Bitcoin mining rewards. Conversely, a low value for this indicator suggests a low price for Bitcoin mining rewards. Puell Mutiple Analysis Methodology Red Zone ➪ Market may be overripe (near Top) Green Zone ➪ Market may be cooling (near bottom) 2. the previous NUPL is working in an uptrend. Please refer to the previous CQ Insights for a description of the NUPL. Briefly, it has reached the Optimism zone, which suggests it is relatively positive. 3. the MidTop indication (350DMA) of the Pi Cycle Top indicator is around $45,000. Although not a CQ indicator, the "Pi Cycle Top indicator" published on another site has been able to guess past mid-term ceilings. Since I don't think the rise this year will be ATH, I think the Top this year will be around $45,000, which is located at the 350 DMA moving average line. Because, considering that a recession is factored in around the end of this year. Based on these three reasons, I believe that the ceiling for this year is at $45,000. *This analysis is just my personal view, so please take your own risk when you invest. You can also follow me on Twitter if you like 😌 @yblockchain_
Written by yblockchain_
