The Mayer Multiple has helped to mark points of extreme panic in the Bitcoin market for quite sometime now. Whenever it has gotten into a range of 0.50 to 0.60, it has proven to be a good time to establish long term positions. If someone has been waiting patiently to enter or add to their Bitcoin position, right around this zone could be a good entry level. Now, one thing to point out is that Bitcoin has never seen a major dislocating event in the markets vis a' vis a 2008 style collapse in asset values. So it is conceivable that prices could certainly go much lower then anyone has ever dreamed. With that being said, again sitting in cash long term may prove to be folly so if even a small portion is deployed into Bitcoin during periods of extreme panic and bearish despair as we are see today, it could prove to be a worthwhile investment longer term.
Comment:
0.52 today before the Fed Meeting.. Personally I am putting some Bitcoin long here for Long Term Allocation as I have been flat since the 60s..