Trace Mayer is the guy behind the Mayer Multiple. The Mayer Multiple is the ratio of the current price to the 200 moving day average. They then model that with a simulation to figure out when buying bitcoin is profitable. The Mayer Multiple discussion is hosted here: https://www.theinvestorspodcast.com/bitcoin-mayer-multiple/
There is an automated twitter feed available here: https://twitter.com/TIPMayerMultple
The last tweet says the following: Mayer Multiple- @TIPMayerMultple, 18 minutes ago, The current Mayer Multiple is 0.88 with a BTC price of $6,964.60 USD and a 200 day moving average of $7,895.30 USD
What it's doing is looking at the current price of bitcoin and comparing it to the 200 day moving average price of bitcoin. Over the last 200 days the average price of bitcoin is $7,895. When they took a snapshot of price the current price was $6,964. When you divide the second number by the first you get 0.88, which is to say that the current price is 88% of the moving average price.
Scanning this overall chart you can see that the multiple is at 0.88 only 18.85% of the time (sorry for the black box around the wrong number, that's from the website, I didn't generate this, you should be looking above that at the 0.8-0.9 section about 5 rows down:
The Mayer Multiple is below 1
While for many holders of bitcoin that isn't a fun prospect, but for people holding cash that could be exciting for you or your family. It's a rare opportunity to purchase the coin below the 200 day moving average. Of course price could still go down, and there's risks, but for people looking for a bargain entrance on cryptos it would seem that starting sometime around now and going out for what may be the next week or two could be very strong entry points. This could be a crash... from the interest I saw recently in Boston I don't think it's a crash, but it is a possibility.
Trace has a personal Twitter feed too
Less than a month ago he put out this chart:
He updated it today:
We've reached as low at $6800
That puts the Mayer Multiple at a low of 0.86. When they run the simulations basically any investment that comes in below their average price representing the 200 day moving average times 1.47 ends up being a good time to buy in. That said I've started buying some litecoin with cash that I still have around. There's may be lower lows still to come and we may have a few more weeks before this correction ends. I'm still pretty comfortable coming in here.
I don't know you or your circumstances
Crypto is risky. I don't know how much risk tolerance you have or should have in your portfolio. Make your own choices. For me I think this is a strong time to buy and will look for some even better deals over the next week or two and keep layering in some purchases.