Bitcoin has been on a rollercoaster ride in recent months, with its price fluctuating wildly. However, there are signs that the cryptocurrency may be on the verge of a major bull run, thanks to a phenomenon known as realized price flipping.
Realized price flipping occurs when the price of Bitcoin surpasses its realized price, which is the average price at which all Bitcoin was last moved on the blockchain. This is significant because it indicates that long-term holders are selling their Bitcoin at a profit, which suggests that they believe the price has peaked and are taking profits.
In June, Bitcoin’s realized price was around $6,000, while its market price was around $9,000. This means that long-term holders were selling their Bitcoin at a profit, which suggests that they believe the price has peaked and are taking profits.
However, there is another threshold that could be even more significant for Bitcoin’s long-term prospects. This is the $10,000 threshold, which is the level at which many analysts believe Bitcoin will become a mainstream investment option.
If Bitcoin can surpass this threshold and maintain its price above it, it could attract a flood of new investors who have been waiting on the sidelines. This could lead to a major bull run that could see Bitcoin’s price soar to new heights.
There are several factors that could contribute to this potential bull run. One is the growing interest in Bitcoin among institutional investors, who are increasingly looking to diversify their portfolios with cryptocurrencies.
Another factor is the growing acceptance of Bitcoin as a legitimate form of payment. More and more merchants are accepting Bitcoin as payment, which could help to increase its adoption and drive up its price.
Finally, there is the ongoing economic uncertainty caused by the COVID-19 pandemic. Many investors are looking for safe-haven assets to protect their wealth from the economic fallout of the pandemic, and Bitcoin could be seen as a viable alternative to traditional investments like stocks and bonds.
In conclusion, realized price flipping in June could be a potential bull catalyst for Bitcoin, with the $10,000 threshold looming as a major milestone. If Bitcoin can surpass this threshold and maintain its price above it, it could attract a flood of new investors and lead to a major bull run that could see its price soar to new heights. However, as with any investment, there are risks involved, and investors should do their own research and consult with a financial advisor before investing in Bitcoin or any other cryptocurrency.
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- Source: https://zephyrnet.com/bitcoins-next-bull-catalyst-realized-price-flipping-in-june-just-800-from-long-term-holder-threshold/