The Mayer Multiple is bitcoin's price divided by its 200-day moving average. This page computes it from real Bybit daily closes: the latest reading, the full history with price bands, how often the multiple was higher, what the price did next, and a test that buys low and sells high on the multiple, with fees. Six more coins too.
Point at the chart or tap it to read any day.
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MayerMultiple.info, a site devoted to the measure, put it in one line: "The Mayer Multiple is the multiple of the current Bitcoin price over the 200-days moving average." The site credits Trace Mayer, who created it "as a way to analyse the price of Bitcoin in a historical context," adds that "It does NOT tell whether to buy, sell or hold," and explains the best-known level: "Simulations performed by Trace Mayer determined that in the past, the best long-term results were achieved by accumulating Bitcoin whenever the Mayer Multiple was below 2.4."
The values on this page are our own computation: each daily close at midnight UTC divided by the plain average of the last 200 daily closes, that day included. A multiple of 1 means the price sits on its average, and 2 means twice the average. The colored lines on the chart are the average times 0.8, 1, 1.5 and 2.4. Only 2.4 comes from Trace Mayer; the others are this page's choice, to mark the low and high ranges of the multiple.
Pick a coin and a range, point at the chart to read any day, see what price each multiple stands for now, and try your own buy and sell levels in the test.
On September 25, 2026, the last day in the data, bitcoin closed at $84,029.10 and its 200-day average stood at $70,897.63, a Mayer Multiple of 1.19. Since the first 200-day average in this data, on June 1, 2019, the multiple was higher on 34.7% of days. At the current average, a multiple of 2.4 would take a price of $170,154.31, 102.5% above the last close, and a multiple of 0.8 a price of $56,718.10.
The highest reading was 2.82 on January 8, 2021, with bitcoin at $40,614.50. The multiple closed at 2.4 or above on 25 days: one day in June 2019 and the rest between January 3 and March 13, 2021. The lowest reading was 0.48 on June 18, 2022, at $18,942.00. Bitcoin spent 413 of 2,674 days, 15.4%, below 0.8 times its average, and 41.5% of days below 1.
The table in the tool groups every day by its multiple and looks 90 and 365 days ahead. High readings came before weak years: from days between 1.5 and 2.4, the median change over the next 365 days was +9.0%, and from days at 2.4 or above it was -10.9%, higher in 9 of 25. Days between 0.8 and 1.0 were followed by a median of +74.2% and days between 1.0 and 1.5 by +76.9%. Below 0.8 the median was +34.1%. Neighboring days share most of their future, so these counts are far from independent, and the days at 2.4 or above come from a single run in early 2021 plus one day in 2019.
The test starts with $10,000 in cash on the first day with a multiple, buys when the multiple closes below the buy level, sells when it closes above the sell level, and trades at the next day's close with a 0.1% fee and 0.05% slippage. With a buy level of 1.0 and Trace Mayer's 2.4 as the sell level, it bought on September 27, 2019 at $8,190.50, sold on January 4, 2021 at $32,050.50, bought back on May 20, 2021 at $40,622.50 and held to the end, finishing at $80,460.15. Buying and holding from June 2, 2019 ended at $95,871.50.
The result depends heavily on the levels. Buying under 0.8 instead finished at $97,761.57, and buying under 0.8 but selling over 1.5 finished at $34,912.04. This rule is simpler than the accumulation Trace Mayer simulated; it only shows how much the chosen levels change the outcome.
The bitcoin 200 week moving average page shows how far the price sits from six averages, the bitcoin golden cross page tracks the 50-day against the 200-day, and the pi cycle top indicator uses two other averages.
Educational, not financial advice. The Mayer Multiple describes where the price stood against its own past. It does not predict the next move or recommend buying or selling any coin.
At the last close in this data, September 25, 2026, bitcoin's Mayer Multiple was 1.19: a close of $84,029.10 divided by a 200-day average of $70,897.63. The multiple was higher on 34.7% of days since June 2019.
Divide the daily close by the average of the last 200 daily closes. With the last values here, $84,029.10 divided by $70,897.63 gives 1.19. Sites that use another exchange or another daily closing time get slightly different values.
The price is 2.4 times its 200-day average. Trace Mayer's simulations found that, in the past, the best long-term results came from accumulating bitcoin while the multiple was below 2.4. In this data bitcoin closed at 2.4 or more on 25 days, and 365 days later it was higher on 9 of them.
In this data, which starts in June 2019, the highest was 2.82 on January 8, 2021 and the lowest 0.48 on June 18, 2022. Older bitcoin prices, not in this data, would add earlier readings.
Price lines at fixed multiples of the 200-day average. This page draws the average times 0.8, 1, 1.5 and 2.4; at the last close they stood at $56,718.10, $70,897.63, $106,346.44 and $170,154.31.