Definition
Breakeven Multiple is the value by which the current price of a coin or asset needs to be multiplied to reach its Breakeven Point (BEP).
Understanding the Term
Sometimes, the Breakeven Multiple may also refer to the multiple by which a cryptocurrency (or any other asset) must rise in order to reach its previous All-Time High (ATH).
The breakeven multiple can be easily calculated by dividing the initial price (ATH or buying price) by the current market price.
For instance, you buy an asset at a market price of $50. Soon, the price falls to $25 (a 50% drop). In this case, the breakeven multiple is 2 because it needs to experience a 2-fold gain (100% increase) in order to reach its peak price again.
Takeaway
The breakeven multiple is not a percentage but an absolute number.