Bitcoin Price Prediction: Price Could Soar to $180,000 Before Becoming Overbought
Bitcoin’s recent turbulence has left traders questioning whether the market leader has already peaked - but one analyst believes the rally still has room to run.
According to Frank Petter of Eave Capital Management, Bitcoin (BTC) could climb to $180,000 before showing signs of being overbought, based on signals from the Mayer Multiple, a key long-term valuation metric.
Still Far From Overbought
Petter explained that the Mayer Multiple, which compares Bitcoin’s current price to its 200-day moving average, currently sits around 1.16 – far from the 2.4 level typically associated with overbought conditions. “The setup looks strong,” he said, suggesting BTC could extend its rally before hitting that threshold.
At the lower end, the index’s 0.8 zone is often considered oversold, meaning Bitcoin is still closer to undervaluation than excessive optimism. Petter’s analysis implies that prices could rise another 50% or more before reaching those historical extremes.
Momentum Still Intact
This interpretation aligns with a previous note from analyst Axel Adler Jr., who said in July that Mayer Multiple readings near 1.1 often serve as “a fuel reserve” for renewed bullish momentum.
While the long-term signal remains positive, short-term volatility persists. Several traders warn that renewed selling pressure could push BTC below $114,000 in the coming weeks before a potential rebound.
A Critical Stretch for Bitcoin
Bitcoin’s oscillation between sharp rallies and sudden corrections has kept markets on edge throughout the fourth quarter. However, analysts like Petter argue that unless the Mayer Multiple climbs above 2.4, the broader cycle still favors accumulation rather than exhaustion.
At press time, Bitcoin trades near $120,000, consolidating after last week’s swings – with bulls and bears both waiting for the next decisive move.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
