Glassnode: The current real market value of Bitcoin is $50,000, representing the average cost basis of each active investor
Odaily2024/07/07 07:00
By:Odaily
Odaily News Glassnode published an analysis that the current Bitcoin price is still in the enthusiastic bull market stage. After entering the frenzy range, it quickly fell back. The real market average is $50,000, representing the average cost basis of each active investor. If the macro bull market is expected to continue, this level is still the key price level that the market needs to stay above. Bitcoins unrealized profits indicate that the market may be overheated. The current value is $92,000. The break-even level for the short-term holder group is $64,000. The current spot price is below this level, but it is trying to recover. It is worth noting that only 7% of trading days record spot prices below the -1 standard deviation band, making it a relatively rare situation.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ripple Price Analysis: XRP Explodes 20% Weekly, Here Are the Next Targets
Cryptopotato•2024/07/14 15:20
The Funding: Top VCs reveal why they invested $85 million in AI-crypto startup Sentient
Quick Take This is an excerpt from the sixth edition of The Funding newsletter sent to our subscribers on July 13. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.
The Block•2024/07/14 14:01
