Bitcoin Long-Term Holder Realized Price Is Currently Around $22,400
According to the latest weekly report from , BTC broke through all three realized prices of the market back in April 2019. To understand the concept of “realized price,” the realized cap needs to be looked at first. The realized cap is a capitalization model for BTC that values each coin in circulation at the price it was last transacted.
This is different from the usual market cap, which puts the value of all tokens at the same current price of Bitcoin. When the market cap is divided by the total number of coins in circulation, the BTC price is obtained, a fact that isn’t unexpected at all, as the market cap is calculated by multiplying the price by the number of coins to start with.However, if this same idea is applied to the realized cap (that is if it’s divided by the number of coins), a sort of “realized price” can be derived. The significance of this price is that it’s the cost basis of the average holder in the Bitcoin market.
The implication of this is that if the (normal) price of BTC declines under this realized price, the average investor can be thought to have entered into a state of loss.All investors in the market can be divided into two major cohorts: the “short-term holders” (STHs) and the “long-term holders” (LTHs). The former includes investors who acquired their coins less than 155 days ago, while the latter consists of holders who have been holding their coins for more than that period.
Looks like the value of the crypto has broken past all but one of these metrics | Source:As shown in the above graph, the BTC price had been below all three of these realized prices for much of the bear market, suggesting that the average Bitcoin investor in all the cohorts was carrying an unrealized loss.
BTC Price
At the time of writing, Bitcoin is trading around $21,100, up 22% in the last week.BTC continues to move sideways | Source: