Thermocap multiple is the ratio obtained between dividing the current price of the coin by the
accumulated price of each mined coin.
It is often used to indicate end of a bull market. The formula is XMR-price/(SUM(Daily Reward * Price at
current date)). The Thermocap Bands are calculated
by the current sum of all mined coins multiplied to its price at that current date. You can learn more
about this here.