Bitcoin Nears $87,800 Break-Even Level for 6- to 12-Month Holders
JH Kim
Summary
- Bitcoin is nearing $87,800, the break-even point for investors who bought Bitcoin within the past six to 12 months.
- According to on-chain analytics firm Glassnode, Bitcoin is approaching $87,800, the average cost basis for holders who have owned the cryptocurrency for six to 12 months.
- Selling activity by investors who have held Bitcoin for one to two years has increased, and different trading patterns are being observed depending on holding period.
Forecast Trend Report by Period
Bitcoin is approaching the $87,800 break-even level for investors who bought the token in the past six to 12 months. At the same time, selling by investors who have held Bitcoin for one to two years is increasing.
Glassnode said on Oct. 13 that Bitcoin is nearing $87,800, the average cost basis for holders who have owned the cryptocurrency for six to 12 months.
That price level represents the point at which investors who bought Bitcoin over the past six to 12 months would, on average, break even.
Meanwhile, selling activity by investors who have held Bitcoin for one to two years has increased. Glassnode data shows different trading patterns by holding period.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.