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 โช Market may be overripe (near Top) Green Zone โช 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 ๐ @yblockchain_
Written by yblockchain_
