2019 Bitcoin investors back in profit above $21.8k

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Investors who pur­chased Bit­coin in 2019 are back in prof­it, accord­ing to data ana­lyzed by Glassnode and Cryp­toSlate. The aver­age acqui­si­tion price can be derived by track­ing exchange data and align­ing the price of Bit­coin with the time of withdrawals.

The below chart illus­trates the aver­age acqui­si­tion price of Bit­coin since its inception.

bitcoin withdrawal price
Bit­coin aver­age with­draw­al price

Inter­est­ing­ly, the aver­age his­tor­i­cal price is not con­sis­tent across exchanges. The aver­age price for all exchanges sits around $16.7k, while Coin­base and Binance are around $21k. With Bitcoin’s price well above $23.5k, all exchanges are, on aver­age, in prof­it. The broad­er mar­ket may wel­come such data as it indi­cates mar­ket stress has been reduced.

exchange average price
Bit­coin exchange aver­age price

Notably, Bitfinex investors have a con­sid­er­ably low­er aver­age with­draw­al price of around $11,000. Giv­en that Bit­coin has been above $11,000 since Octo­ber 2020, such a low price makes it a con­sid­er­able outlier.

The post 2019 Bit­coin investors back in prof­it above $21.8k appeared first on Cryp­toSlate.



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