Despite Bitcoin's Price Drop, Short-Term Holders Still Hold 7.9% Unrealized Gains
Despite the decline in Bitcoin's price, the average Short-Term Holder continues to hold an impressive 7.9% unrealized gain. Their aggregate cost-basis currently resides at $86.8k, marking this as a key region of interest for local price momentum.
What's Happening?
Despite the drop in Bitcoin's price, Short-Term Holders are still holding onto significant gains. This is because they purchased their Bitcoins at higher prices.
What's Next?
For now, Short-Term Holders have no pressing need to sell their Bitcoins. However, if Bitcoin's price continues to drop, they may choose to sell to minimize their losses.
Is This a Good Time to Buy Bitcoin?
The answer to this question depends on your investment strategy. If you're a long-term investor, this might be a good time to buy Bitcoin. However, if you're a short-term investor, you may need to sell your Bitcoins to minimize losses.
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