There is still more than a month left in the fourth quarter of this year, and Bitcoin's return in the fourth quarter, before experiencing this drop, was almost equal to last year 2023. From the data of recent years, if Bitcoin performs well in November, it usually ends December with a price increase.
Another piece of news comes from MicroStrategy, which has increased its Bitcoin holdings by 5.4 billion USD, marking the largest purchase in history, with the purchase price at 97,862 USD. Meanwhile, the overall shopping cost for MicroStrategy has now risen to 56,849 USD. However, I believe it is still lower than the cost line for many people. Yesterday, I mentioned that the average purchase cost line for short-term holders has risen to 75,600 USD, and it may have already broken through 76,000 USD now. The influx of short-term holders will eventually further drive up the price.
From the realized market cap wave chart, the participation of new retail investors has not yet reached the peak that the cycle should have; Bitcoin is just taking a temporary break, and we have reason to continue holding Bitcoin, allowing the bullets to fly a little longer.
