Cryptocurrencies

Bitcoin (BTC) reaches its ATH for the “realized price” – Cryptocurrencies

Bitcoin (BTC) crossed $ 17,000 on November 17, 2020. It took less than 24 hours to cross $ 18,000. BTC is trading at $ 18,187 as of this writing. The price of BTC has not yet recorded a new ATH against the dollar, but it has already reached new ATH in other countries such as Russia and Brazil. While waiting for the $ 20,000, another key Bitcoin price has reached an all-time high in USD.

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Bitcoin at $ 6,900: a new ATH

According to data from Glassnode, the realized price or realized price of Bitcoin recently hit a new ATH.

This price is currently above $ 6,900, its highest level since August 2020, when it stood at $ 6,000. The old ATH of August coincided with a more equitable distribution of the offer among the holders of Bitcoin.

For its part, theEther also recorded a new 22-month high of $ 257.

An off-market price for BTC, a fork for BCH

The realized price, which is different from the market price, results from the alternative indicator used by CoinMetrics, the realized capitalization or the capitalization achieved.

This indicator makes it possible to determine the total value of the network, considering the recorded quantity of Bitcoins during a defined trading period.

The idea is to exclude Bitcoins “Lost” or abandoned in wallets that have not seen movement for years.

This indicator aims to provide a clearer representation of the entire network by deducing the Bitcoins out of circulation.

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Along with these new records, Bitcoin Cash (BCH) split into 2: this fork was decided following the introduction of an 8% “tax” on the profits of minors, a measure criticized by many miners, as even going against principles of community decentralization.

Is it just a matter of days before BTC hits $ 20,000? If the still wallets register movements near this historic moment, the realized price of Bitcoin should see a significant rise. Institutional support coupled with euphoric sentiment on the markets should give the final blow. A dollar that would lose points would also help, good old recipes that work are always welcome.

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