Bitcoin realized price reaches a new peak for the year

CryptoSlate
CryptoSlate

30 Jun 2023 8:59 AM

Quick Take Realized price is a metric that offers an average acquisition cost of the total coin supply on-chain. Historically, when Bitcoin’s value dips below the realized price, signified by the purple lines on the chart below, it has consistently indicated a market bottom. This trend has manifested at least once in every bear market […]...

  • Realized price is an average acquisition cost of the total coin supply on-chain.
  • When Bitcoin's value dips below the realized price, it has historically indicated a market bottom.
  • Bitcoin's current realized price is $20,300, the highest since the FTX collapse, and it continues to rise.
  • The upward trend in realized price is promising as short-term holders increase their cost basis.
  • Bitcoin's value trajectory has shown successively higher peaks with each cycle.
  • It is unlikely for the price to fall below the realized price and reach a value as low as $15,500.

The overall sentiment of the article is positive. It highlights the promising upward trend in Bitcoin's realized price and suggests that a market bottom may have been reached. It also mentions the success of Bitcoin's value trajectory and downplays the likelihood of a significant drop in price.

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You May Ask

What is realized price in the context of Bitcoin?What does it historically indicate when Bitcoin's value dips below the realized price?What is the current realized price of Bitcoin and how does it compare to previous periods?Why is the upward trend in realized price considered promising?How likely is it for the price of Bitcoin to fall below the realized price and reach a specific value?

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