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We can monitor the average price at which coins are withdrawn from all exchanges as a tool to estimate a market-wide cost basis.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)

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

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