In the midst of Bitcoin’s recent price struggle, CryptoQuant head of research has revealed the level Bitcoin can potentially sink down to.
Bitcoin Might Go Down To As Low As Realized Price Of 1 To 3 Months Old Hands
In a new post on X, CryptoQuant Head of Research Julio Moreno has discussed how low the BTC price can go following the latest correction. “To evaluate this I like to look at the realized price of 1 to 3 month-old holders,” explains Moreno.
The “realized price” refers to an indicator that basically tells us about the average price at which investors in the Bitcoin market acquired their coins. This metric uses on-chain data to find the cost basis of holders, by assuming that the last transfer of any coin in circulation was when the coin changed hands.
When the spot price of the cryptocurrency is above the realized price, it means that the investors as a whole are carrying some unrealized gains currently. On the other hand, the price being lower than the metric sugge
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