The highest Bitcoin price can be $ 180,000 in this course, Blockchain explains how

Not everything was pink last week, but the reaction of the digital asset market was somewhat well to start The new Donald Trump administration. Specifically, the Bitcoin price was able to overcome the unconfirmed storm that overwhelmed the cryptocurrency market during the past few days.

Although the first cryptocurrency has slowed in recent days, the last note on the series shows that BTC is likely to continue its upward movement. Here is how the distinctive symbol may be preparing for another leg in the coming weeks.

Is there a room for more BTC price growth?

At a post on January 24 on the X platform, Market Intelligence FIRM Glassnode Make up The price of bitcoin has not yet decreased and still has the possibility of further growth in the next few weeks. This revelation depends on the series on the multi -Mayer index, which is calculated as a ratio between the price of assets and the moving average for 200 days (200DMA).

Multiple Mayer measures the distance of bitcoin from its long -term average to estimate excessive conditions in peak and increase. This scale is also used to create a macro or bear bias when analyzing periodic prices.

Historically, the multiple Mayer refers to the excessive market condition in the peak area and the highest possible price when its value is higher than 2.4. On the other hand, the multiple Mayer value of less than 0.8 indicates a traffic condition and that the market bottom may be in it.

Source: Glassnode

According to the data from the Glassnode, the multicon of Bitcoin is 1.37, indicating that the first cryptocurrency is still a great distance from the peak purchase area. This data indicates that BTC still has a room for further growth in this course. Moreover, the price of bitcoin is at least 35 % higher than the moving average for 200 days, which is a bullish sign.

Glassnode It highlighted that the price of Bitcoin will need an increase of more than $ 180,000 to be at the height of purchase. The price level represents this potential peak of the leading cryptocurrency in this current cycle and can be followed by the reflection of trend. With the excessive sales threshold at 0.8, Mayer puts many bitcoin at about 60,000 dollars.

The Bitcoin price has not been particularly impressive since exceeding $ 100,000, which screams at the highest market price. This indicator provides some extent insight into the potential path of the first cryptocurrency in the next few months.

Bitcoin price at a glance

From writing this report, Bitcoin price Sitting just less than $ 105,000, reflecting any major movement last day.

The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView