The Mayer Multiple of Bitcoin, which measures the relationship between the price of the cryptocurrency and the simple moving average (SMA, for its acronym in English) of 200 days, is just 0,80. In other words, the cryptocurrency is trading almost 20% off its 200-day SMA. Such a price structure has been relatively rare in bitcoin's 11-year history, making the 0.80 reading on the indicator a point of undervaluation.