After a long time, Bitcoin (BTC) rose above the 200-day average, which is the psychological limit, while short-term investors turned out to be profitable.
glassnode January 16 In the report he shared on his official website on severe With the beginning of January after one of the months accelerated somehow gained value and approx. 30% on the rise 21 thousand He said it was over the dollar. In the report, many investors and bitcoin Some of this rally that landed its miner is already abutments exists, but whether it will continue definite stated that it was not.
Price Above 200-Day Average
As Glassnode is considered to be the average cost of Bitcoin, it is in the decisions of investors. big a space occupying and an important psychological boundary 200 days moving reported that the breakdown of the mean was realized.
On the other hand, it was stated that Bitcoin strangely showed a behavioral performance consistent with previous rises. Glassnode in the previous bear season for 386 days While reporting that it is below the 200-day average, this time it is very close to the previous one. 381 days He said it was below average throughout.
Bitcoin again 19,500 your dollar also if it falls below 200-day moving average will have fallen below. of bitcoin your $19,500 According to Glassnode, which says that falling below it is a sign of weakness, Bitcoin is above this level. to hold on upwards as long as may exhibit movements.
Short-Term Investors In Profit
On the other hand, the cost of Bitcoin price to short-term investors over In the report, which is stated that long-term investors still have some at a loss it was underlined. Average per Bitcoin of long-term investors $1,200 Stating that it is at a loss, Glassnode said that the market momentum April 2019 pointing out that it is quite similar to that of the moon soon of the rally more as well as long-term investors that they can cross implied.
Fair Value $15,000
Another striking point in the report was the fair Bitcoin value calculated by Glassnode. Company, on-chain data and to exchange data The current fair value of Bitcoin as a result of his model based on 15 thousand to 18 thousand He claimed it ranged in dollars.