IT Tech
In recent analyses, the enthusiasm surrounding long-term Bitcoin holders is palpable
In recent analyses, the enthusiasm surrounding long-term Bitcoin holders is palpable. Is their reluctance to sell driven by a deliberate accumulation strategy, anticipating future profits? Not entirely. A closer look at the realized prices by cohorts reveals a nuanced picture. Despite the overall bullish sentiment, a significant subset remains underwater. The cohort that invested in BTC 2-3 years ago, for instance, is still grappling with an average realized price of $45,000, resulting in an ongoing average loss. The implications are intriguing — some may choose to sell when Bitcoin aligns with their purchase price, marking a break-even point rather than a profitable exit. 🧠