Crazzyblockk2023-04-05

Bitcoin: a long way to bull-run

Usually, near the price bottom, the value in the pockets of short-term holders gets more profit, and the need for continued price growth of Bitcoin depends on the behavior of these players and their profitability process. One of the best and most valuable ways to determine Bitcoin holders' behavior is to understand how much value they hold based on the realized price. According to the nature of the long-term holders, they usually hold their coins for a long time and tolerate more loss. Bitcoin profit days often begin with the short-term holder's profitability. The more the profit in the pockets of these holders increases, the more interested they will be in keeping their coins and the less pressure to sell. For this reason, now short-term holders are more valuable. According to the metric and description above, when the 1m-6m age band realized price passes the 6m-12m age bands, represent new BTC investors have more value in their pocket and more profit. Based on the Bitcoin price cycle in 2015-2016 and 2018-2019, when the 1m-6m age bands' realized price value passed the 6m-12m age bands realized price, after the pre-bull run price correction, the bull run began. Now the situation is different, and we need more new investors to cause more value in the short-term holders' pockets to create a more long-term attitude in short-term holders and convert these holders into long-term ones. For these reasons, the process of the BTC bull run can be time-consuming.