In the past two bear markets, Bitcoin has used the realized price by year as support

Tag : CryptoSlate

Definition

We can monitor the average price at which coins are withdrawn from all exchanges as a tool to estimate a market-wide cost basis. In this chart, we consider the average withdrawal prices for cohorts established by date, starting on the 1-Jan for the following cohorts:

  • 🟣 All-time
  • 🔘 2017+
  • 🔵 2018+
  • 🟢 2019+
  • 🟡 2020+
  • 🟠 2021+
  • 🔴 2022+

Quick Take

  • In the past two bear markets — 2019 and 2022 — Bitcoin (BTC) has used the realized price by year as support.

The current RP by year:

  • 2017: $15,189
  • 2018: $18,635
  • 2019: $21,831
  • 2020: $26,464
  • 2021: $36,897
  • 2022: $26,391
  • 2023: $21,310
  • All-Time: $11,090

As an aggregate basis, 2020, 2021, and 2022 buyers are underwater.

Exchange average withdrawal price: (Source: Glassnode)
Exchange average withdrawal price: (Source: Glassnode)

The post In the past two bear markets, Bitcoin has used the realized price by year as support appeared first on CryptoSlate.

Your Diving Board Into The Vast Pool Cryptocurrencies Have Become by Johan Vranckx
I detected you have an ad blocker installed in your browser. Advertising is a way of earning a small compensation for the work I put in to create this site. If you like my site and appreciate my efforts to create an informative site, would you consider buying me a coffee? I would greatly appreciate it :-)