Bitcoin has been on a rollercoaster ride in recent months, with its price fluctuating wildly. However, there is reason to believe that June could be a turning point for the cryptocurrency, as realized price flipping could be the next bull catalyst for Bitcoin, bringing it close to the long-term holder threshold of $800.
Realized price flipping is a term used to describe a situation where the price of Bitcoin rises above the average cost of all coins in circulation. This means that long-term holders of Bitcoin are in profit, and are more likely to hold onto their coins rather than sell them. This can create a supply shortage, which can drive up the price of Bitcoin even further.
According to data from Glassnode, realized price flipping occurred in May 2021, when the price of Bitcoin rose above the average cost of all coins in circulation. This was a significant milestone for Bitcoin, as it meant that long-term holders were in profit for the first time since the 2017 bull run.
Now, analysts are predicting that June could be the next bull catalyst for Bitcoin, as realized price flipping could occur again. This is due to a number of factors, including increased institutional adoption of Bitcoin, growing interest from retail investors, and a general bullish sentiment in the market.
One of the key drivers of Bitcoin’s recent price surge has been institutional adoption. Companies such as Tesla, MicroStrategy, and Square have all invested heavily in Bitcoin, and more are expected to follow suit. This institutional adoption has helped to legitimize Bitcoin as an asset class, and has given investors more confidence in its long-term potential.
Another factor driving Bitcoin’s price is growing interest from retail investors. Platforms such as Coinbase and Binance have made it easier than ever for people to buy and sell Bitcoin, and this has led to a surge in demand for the cryptocurrency. As more people become interested in Bitcoin, its price is likely to continue rising.
Finally, there is a general bullish sentiment in the market, with many investors predicting that Bitcoin will continue to rise in value over the coming months. This sentiment is based on a number of factors, including the ongoing economic uncertainty caused by the COVID-19 pandemic, the growing adoption of blockchain technology, and the increasing mainstream acceptance of Bitcoin as a legitimate asset class.
All of these factors combined could lead to realized price flipping in June, which would be a significant milestone for Bitcoin. If this occurs, it could bring Bitcoin close to the long-term holder threshold of $800, which would be a major achievement for the cryptocurrency.
In conclusion, realized price flipping could be the next bull catalyst for Bitcoin, bringing it close to the long-term holder threshold of $800. This would be a significant milestone for the cryptocurrency, and could lead to further price increases in the coming months. With growing institutional adoption, increasing interest from retail investors, and a general bullish sentiment in the market, there is reason to believe that Bitcoin’s price will continue to rise over the coming months and years.
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- Source: https://zephyrnet.com/bitcoins-next-bull-catalyst-realized-price-flipping-in-june-just-800-from-long-term-holder-threshold/