• Bitcoin is now above the realized price on all major exchanges.
• The exchange average withdrawal price for Bitfinex, All Exchanges, Binance and Coinbase are $10,595, $16,816, $21,362 and $21,046 respectively.
• During the 2019 and 2020 bear markets, the Bitcoin price went through all-exchanges realized price however during the 2022 bear market it briefly went below the realized price of all exchanges.
Bitcoin Above Realized Price On All Major Exchanges
Bitcoin has broken through $24000 and is now above the realized price on all major exchanges. This was not always the case – during both the 2019 and 2020 bear markets, bitcoin prices fell below the all-exchange realized prices. However in 2021 this changed with a brief dip in 2022 where bitcoin dipped below its realized price again.
Exchange Average Withdrawal Prices
It is possible to monitor an approximate cost basis by considering averages of coins withdrawn from various exchanges. As of writing this article these averages stand at: Bitfinex ($10595), All Exchanges ($16816), Binance ($21362) and Coinbase ($21046).
2019 And 2020 Bear Markets
During both 2019 and 2020 bear markets bitcoin dropped significantly below its all-exchange realized prices – indicating that it was sold off heavily during these periods. This suggests that investors were more inclined to sell their holdings rather than hold onto them in anticipation of a future turnaround in market sentiment or prices.
2022 Bear Market
The year 2022 saw a brief dip in bitcoin’s prices which briefly took it back below its all-exchange realized prices. This could suggest that investors were less willing to hold onto their assets during this period as compared to previous years due to increased uncertainty about future prospects for digital currencies such as bitcoin or other cryptocurrencies.
Overall despite some minor fluctuations in recent months bitcoin appears to be resilient against downturns in investor sentiment or market conditions as evidenced by its current position above its all-exchange realization rate – suggesting that investors may be increasingly confident about holding onto their assets for longer periods of time even when there are drops in prices or overall market decline.