This was when the “Realized Price of Bitcoin crossed below the Market Price.” Since 13 June, the price of the leading cryptocurrency has fallen by 24%, trading below the psychological $20,000 price level several times.The current bear cycle can be considered worse due to the state of the broader financial markets. Furthermore,
Comparing previous bear cycles to the current one, MAC_D found that in previous bear cycles, BTC’s velocity rose despite the increment in the asset’s supply and a continued decline in its price. However, in the current bear cycle, things have operated differently. BTC’s velocity declined steadily, which according to MAC_D, was an indication that “BTC’s transactions have been relatively reduced.”shared MAC_D’s sentiments. Caueconomy, in a new report, found that the BTC network currently suffers a decline in active addresses that send and receive the king coin.
Source: Digital Coin News (digitalcoinnews.net)
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