Trace Mayer said on Twitter that he believes Bitcoin is currently undervalued, and his target price in February (only four months later) is $ 27395 per bit. He predicted the steady growth of the 200-day moving average. Mayer predicts that the 200-day moving average will rise, assuming that it will rise to $ 5,767 in February. If this is the case, he asserts that the value of each coin is moving average of 4.75 times that is $ 27395, which will be a "fair" price.
This is a good month for the integration of Bitcoin. 200 day moving average average rise. The next six months should be very interesting. LizegerX! # NO2X pic.twitter.com/Q1n3ns1myu
--Trace Mayer (@TraceMayer) October 9, 2017
Who is he?
Trace Mayer, JD, according to his website, was one of the first publicly known bloggers to recommend block-chain technology. At that time, Mayer suggested that his followers buy Bitcoin, when the price of each coin was only $ 0.25.
Mayer was very wealthy as most of the early adopters of the bitcoin, and recently challenged Roger Ver for a bet of 25,000 bits. Almost no one in the world has enough assets to bet $ 121 million. Except for the price of the earlier bitcoin. Mayer also provided seed funding for Kraken, BitPay and Arsenal. On his website, Mayer described himself as
"an entrepreneur, an investor, a journalist, a money scientist, and an enthusiastic defender of freedom of speech.Mayer has a degree in accounting and law.He studied Austrian economics, Concerned about Murray Rothbard and Ludwig von Mises.
For a long time Mayer has been worried about privacy and regulatory issues, worried that the IRS action and the AML / KYC law could hinder growth and motivate bad behavior. The
moving average
technology analysis is an attempt to To determine the art of asset price changes in the future.Although many people sarcastically claim that this is only pseudo-science, but some people think that the root of the technical analysis lies in human psychology. Analysts clearly pointed out that their work is based on probability Said the price is likely to rise or fall, but the unpredictability of the market so that it can not be determined.According
to the investment research firm's data, the moving average is:
"A simple technical analysis tool that smoothes price data by creating a constantly updated average price that can help reduce noise on the price chart or support or resist."
Mayer's 200-day moving average is The average price of Bitcoin over the last 200 days. Every day, the oldest day's data is deleted, the closing price of the last day is added, and the gauge is recalculated. Since the weighted average of the 200-day moving average is so old the price data in the bull market, it is far behind the current price. The purpose of this measure is to show the general trend of price changes.
In the example of Bitcoin, the 200-day moving average continued to show that we are still in the bull market (bull market bullish). If the moving average is down, it is a weak signal, the situation may be reversed. The current price should remain within a certain range of the moving average. If the price is much higher than it, then the proceeds may be unsustainable.
Mayer predicts that the 200-day moving average will continue to rise and Bitcoin will remain above a reasonable level. Only time to prove that he is right or wrong, but history seems to stand on his side. After all, I'm not going to bet on a guy who earns at least $ 120 million in the growth of Bitcoin.