{"id":536249,"date":"2023-06-02T17:30:26","date_gmt":"2023-06-02T17:30:26","guid":{"rendered":"https:\/\/uniquehot.com\/?p=536249"},"modified":"2024-06-11T08:16:32","modified_gmt":"2024-06-11T08:16:32","slug":"pricing-models-bitcoin-stay-above-rally-continue","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/pricing-models-bitcoin-stay-above-rally-continue\/","title":{"rendered":"Here Are The Pricing Models Bitcoin Must Stay Above For Rally To Go On"},"content":{"rendered":"

Here are the pricing model lines that Bitcoin might have to stay above if the bullish momentum of the cryptocurrency has to continue.<\/p>\n

These Bitcoin Pricing Models Are Currently Near The Spot Price<\/h2>\n

In a new tweet, the on-chain analytics firm Glassnode<\/a> has pointed out how the three pricing models, the adjusted realized price, the short-term holder cost basis, and the 200-week MA, are all close to the asset’s value right now.<\/p>\n

To understand the first and second models here, the “realized price<\/a>” needs to be looked at first. The realized price is a pricing model derived from the realized cap, which is a capitalization model that assumes that the “real” value of each coin in the circulating supply is not the spot price, but the price at which it was last moved.<\/p>\n

When this cap is divided by the total number of coins in circulation, the average cost basis or acquisition price in the market is obtained. This value, which the average holder on the network bought their coins at, is known as the realized price.<\/p>\n

Now, the first pricing model, the “adjusted realized price,” is a modification of this indicator that drops from the data all holders who haven’t moved their coins since more than seven years ago.<\/p>\n

Related Reading: Why This Is The Most Important Bitcoin Chart You\u2019ll See This Week<\/a><\/div>\n

Such old supply usually consists mostly of the coins that have been lost (perhaps due to the wallet keys no longer being accessible), which means that this part of the supply wouldn’t be relevant to the current market, hence why the indicator cuts it out.<\/p>\n

As for the second model of interest here, the “short-term holder<\/a> (STH) cost basis,” this metric keeps track of the realized price of specifically the investors who have been holding their coins since less than 155 days.<\/p>\n

Here is a chart that shows how these Bitcoin pricing models have compared with the spot price during the past year:<\/p>\n

\"Bitcoin<\/p>\n

The price seems to be just above these models at the moment | Source: Glassnode on Twitter<\/a><\/pre>\n
As displayed in the above graph, the Bitcoin adjusted realized price currently has a value of $25,300, while the short-term holder cost basis has a value of $26,000.<\/p>\n
Historically, these models have acted as both resistance and support for the price, depending on the wider trend. In bullish periods, they usually act as support so it’s possible that if the price drops deep enough to hit them, a rebound may happen.<\/p>\n
The third line on the chart, the 200-week moving average (MA)<\/a>, is a model that aims to find the baseline momentum of the four year Bitcoin cycle. This line has also had some similar interactions with the price as the other two models.<\/p>\n
The 200-week MA has a value of $26,300 right now, implying that it’s currently the closest line to the spot price. It now remains to be seen how the price interacts with these lines, starting with the 200-week MA, if a drawdown extended enough happens.<\/p>\n
Related Reading: Litecoin Breaks $95 As Whale Transactions Spike<\/a><\/div>\n
A successful retest of these lines would naturally be a positive sign for the rally, but a drop under them may be a signal that a transition back towards a bearish regime has occurred.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around $27,000, up 1% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
Looks like BTC hasn't moved much recently | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Maxim Hopman on Unsplash.com, charts from TradingView.com, Glassnode.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Here are the pricing model lines that Bitcoin might have to stay above if the bullish momentum of the cryptocurrency has to continue. These Bitcoin Pricing Models Are Currently Near The Spot Price In a new tweet, the on-chain analytics firm Glassnode has pointed out how the three pricing models, the adjusted realized price, the short-term holder cost basis, and the 200-week MA, are all close to the asset’s value right now. To understand the first and second models here, the “realized price” needs to be looked at first. The realized price is a pricing model derived from the realized cap, which is a capitalization model that assumes that the “real” value of each coin in the circulating supply is not the spot price, but the price at which it was last moved. When this cap is divided by the total number of coins in circulation, the average cost basis or acquisition price in the market is obtained. This value, which the average holder on the network bought their coins at, is known as the realized price. Now, the first pricing model, the “adjusted realized price,” is a modification of this indicator that drops from the data all holders who haven’t moved their coins since more than seven years ago. Related Reading: Why This Is The Most Important Bitcoin Chart You\u2019ll See This Week Such old supply usually consists mostly of the coins that have been lost (perhaps due to the wallet keys no longer being accessible), which means that this part of the supply wouldn’t be relevant to the current market, hence why the indicator cuts it out. As for the second model of interest here, the “short-term holder (STH) cost basis,” this metric keeps track of the realized price of specifically the investors who have been holding their coins since less than 155 days. Here is a chart that shows how these Bitcoin pricing models have compared with the spot price during the past year: The price seems to be just above these models at the moment | Source: Glassnode on Twitter As displayed in the above graph, the Bitcoin adjusted realized price currently has a value of $25,300, while the short-term holder cost basis has a value of $26,000. Historically, these models have acted as both resistance and support for the price, depending on the wider trend. In bullish periods, they usually act as support so it’s possible that if the price drops deep enough to hit them, a rebound may happen. The third line on the chart, the 200-week moving average (MA), is a model that aims to find the baseline momentum of the four year Bitcoin cycle. This line has also had some similar interactions with the price as the other two models. The 200-week MA has a value of $26,300 right now, implying that it’s currently the closest line to the spot price. It now remains to be seen how the price interacts with these lines, starting with the 200-week MA, if a drawdown extended enough happens. Related Reading: Litecoin Breaks $95 As Whale Transactions Spike A successful retest of these lines would naturally be a positive sign for the rally, but a drop under them may be a signal that a transition back towards a bearish regime has occurred. BTC Price At the time of writing, Bitcoin is trading around $27,000, up 1% in the last week. Looks like BTC hasn’t moved much recently | Source: BTCUSD on TradingView Featured image from Maxim Hopman on Unsplash.com, charts from TradingView.com, Glassnode.com<\/p>\n","protected":false},"author":542,"featured_media":536263,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,88369,6481,86297,1119,1144],"class_list":["post-536249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-pricing-models","tag-bitcoin-rally","tag-bitcoin-realized-price","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nHere Are The Pricing Models Bitcoin Must Stay Above For Rally To Go On<\/title>\n<meta name=\"description\" content=\"Here are the pricing model lines that Bitcoin might have to stay above if the bullish momentum of the cryptocurrency has to 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Here Are The Pricing Models Bitcoin Must Stay Above For Rally To Go On","url":"http:\/\/uniquehot.com\/news\/pricing-models-bitcoin-stay-above-rally-continue\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/pricing-models-bitcoin-stay-above-rally-continue\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/maxim-hopman-fiXLQXAhCfk-unsplash-1-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/maxim-hopman-fiXLQXAhCfk-unsplash-1-scaled.jpg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin pricing models","bitcoin rally","bitcoin realized price","btc","btcusd"],"dateCreated":"2023-06-02T17:30:26Z","datePublished":"2023-06-02T17:30:26Z","dateModified":"2024-06-11T08:16:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Here Are The Pricing Models Bitcoin Must Stay Above For Rally To Go On\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/pricing-models-bitcoin-stay-above-rally-continue\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/pricing-models-bitcoin-stay-above-rally-continue\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/maxim-hopman-fiXLQXAhCfk-unsplash-1-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/maxim-hopman-fiXLQXAhCfk-unsplash-1-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin pricing models\",\"bitcoin rally\",\"bitcoin realized price\",\"btc\",\"btcusd\"],\"dateCreated\":\"2023-06-02T17:30:26Z\",\"datePublished\":\"2023-06-02T17:30:26Z\",\"dateModified\":\"2024-06-11T08:16:32Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/maxim-hopman-fiXLQXAhCfk-unsplash-1-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/536249"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=536249"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/536249\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/536263"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=536249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=536249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=536249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}