On-chain data shows the true market mean price of Bitcoin is valued at $29,700 right now, making the level of particular significance for the coin. Bitcoin True Market Mean Price Is At $29,700 Currently In a new post on X, the lead on-chain analyst at the on-chain analytics firm Glassnode, “Checkmate,” pointed out how the BTC price currently trades below the true market cost basis. The “market cost basis” refers to the average price at which the investors in the sector bought their coins. One popular way of calculating this cost basis is through the “realized cap,” which measures the total value of the cryptocurrency by assuming that the price at which each coin on the blockchain was last transferred is its true value. When this capitalization model is divided by the total number of coins in circulation, the “realized price” is obtained, which is the average cost basis of the supply. Related Reading: These Bitcoin Holders Have Bought Almost $2 Billion In Last 6 Weeks: Data However, this method has some issues, such as a chunk of the circulating Bitc ..
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