Analysis: If long-term Bitcoin holders take profits, the current return rate is about 290%
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Odaily reports that some analysts believe that the rise of Bit will continue after the initial stagnation after the presidential election. Ryan Lee, chief analyst at Bitget Research, said that the price of BTC may pull back by around 30% before it can recover a bullish trend. In addition, long-term Bit holders (addresses holding Bit for more than 155 days) are sitting on substantial profits, which may increase the risk of further sell-offs, as investors may seek to cash out and profit in the new year. According to data from Bitbo, the realized price of long-term holders is $24,298, and if they sell at the current price ($94,820), they can profit by about 290%. However, the average cost basis of short-term holders (holding Bit for less than 155 days) is much higher, with this group having a realized price of $86,753, and if they sell at the current price, they can only profit by 9.29%. (Cointelegraph)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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