02-01-2023, 05:13 AM
Bitcoin has broken above the short-term and long-term holder cost basis and Realized
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/10qa7oe/bitcoin_has_broken_above_the_shortterm_and/"> <img src="https://b.thumbs.redditmedia.com/9QerDeliCWxfc5Knjf6csILK0b088HykAoRe3Uh5RBI.jpg" alt="Bitcoin has broken above the short-term and long-term holder cost basis and Realized Price all at once. This has only happened three time in history, each was a reversal after bottom formation." title="Bitcoin has broken above the short-term and long-term holder cost basis and Realized Price all at once. This has only happened three time in history, each was a reversal after bottom formation." /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>I think we have had a lot of posts of Bitcoin breaking above this and that trendline (and a majority probably came from me alone) but here one of the last ones that sums them all up a bit. One of the most important trend-lines are the short-term and long-term holder costs basis, which show the cost basis for short-term and long-term holders each, meaning when the break even point could be according to on-chain data.</p> <p>The Realized Price is also one of the most popular ones and this one is simply calculated with on-chain data that shows the average price that each person paid for their coins, divided by total supply. Each bear market Bitcoin drops below those three and uses them as resistance often, those three are also one of the most consistent indicators in Bitcoin history.</p> <p>​</p> <p><a href="https://preview.redd.it/nr4d43pczffa1.jpg?width=1800&format=pjpg&auto=webp&s=17c594372ed1af3f9c93835c3ade5daba20e1077">From Glassnode Onchain Insight</a></p> <p>As we can see now after last months rally, we were able to break above all of those three at once. The short-term holder basis fell first as it was sitting at $18.9k, then the Realized Price which was at $19.7k. Lastly we even got the Long-term holder costs basis which was at a $22.3k. Only three previous times in history had BTC broken above all of those three at once, and each was the reversal from the respective bear market. In 2012, 2015 and 2018, now also 2023.</p> <p>For many those technicals may not mean much but at the end of the day you can get a general overview on how significant this rally, no normal bear market rally goes this high or at least did not yet.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/partymsl"> /u/partymsl </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10qa7oe/bitcoin_has_broken_above_the_shortterm_and/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10qa7oe/bitcoin_has_broken_above_the_shortterm_and/">[comments]</a></span> </td></tr></table>
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/10qa7oe/bitcoin_has_broken_above_the_shortterm_and/"> <img src="https://b.thumbs.redditmedia.com/9QerDeliCWxfc5Knjf6csILK0b088HykAoRe3Uh5RBI.jpg" alt="Bitcoin has broken above the short-term and long-term holder cost basis and Realized Price all at once. This has only happened three time in history, each was a reversal after bottom formation." title="Bitcoin has broken above the short-term and long-term holder cost basis and Realized Price all at once. This has only happened three time in history, each was a reversal after bottom formation." /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>I think we have had a lot of posts of Bitcoin breaking above this and that trendline (and a majority probably came from me alone) but here one of the last ones that sums them all up a bit. One of the most important trend-lines are the short-term and long-term holder costs basis, which show the cost basis for short-term and long-term holders each, meaning when the break even point could be according to on-chain data.</p> <p>The Realized Price is also one of the most popular ones and this one is simply calculated with on-chain data that shows the average price that each person paid for their coins, divided by total supply. Each bear market Bitcoin drops below those three and uses them as resistance often, those three are also one of the most consistent indicators in Bitcoin history.</p> <p>​</p> <p><a href="https://preview.redd.it/nr4d43pczffa1.jpg?width=1800&format=pjpg&auto=webp&s=17c594372ed1af3f9c93835c3ade5daba20e1077">From Glassnode Onchain Insight</a></p> <p>As we can see now after last months rally, we were able to break above all of those three at once. The short-term holder basis fell first as it was sitting at $18.9k, then the Realized Price which was at $19.7k. Lastly we even got the Long-term holder costs basis which was at a $22.3k. Only three previous times in history had BTC broken above all of those three at once, and each was the reversal from the respective bear market. In 2012, 2015 and 2018, now also 2023.</p> <p>For many those technicals may not mean much but at the end of the day you can get a general overview on how significant this rally, no normal bear market rally goes this high or at least did not yet.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/partymsl"> /u/partymsl </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10qa7oe/bitcoin_has_broken_above_the_shortterm_and/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10qa7oe/bitcoin_has_broken_above_the_shortterm_and/">[comments]</a></span> </td></tr></table>