Bitcoin cycle indicators
Four long-term gauges that have marked Bitcoin's highs and lows in past cycles. None of them can time the market, but together they show whether the price is stretched or cheap.
Today the Mayer multiple is 1.09 (above its long-term trend), Bitcoin is +18.7% from its 200-week average and -35.9% from its all-time high, 922 days after the last halving.
Mayer multiple (price รท 200-day average)
What each indicator means
- Mayer multiple
- The price divided by its 200-day average. Below 1 Bitcoin is under its long-term trend; past cycle tops came above 2.4.
- 200-week average
- Bitcoin has rarely traded below its 200-week (about 4-year) average, and when it did it was near a cycle low.
- Pi cycle top
- When the 111-day average climbs above twice the 350-day average, Bitcoin has historically been within days of a cycle top. The gap shows how far away that crossing is.
- Halving cycle
- Every four years the new supply of Bitcoin is cut in half. Past highs came 12 to 18 months after a halving. See the halving countdown.