“That level repressents of the average investor’s cost basis, Said James Check, Who Expects the $ 50,000 Area to Offer Strong Long-Term Support.”, – WRITE: www.coindesk.com
While Acknowledge It’s Possible That Level Has Already Been Hit, On-Cheain Analyst James Check Suggested A True Bottom May Not Be in Place Unil after Bitcoin Suffers A Trive Capitul.
That wold Likely require a Decline to the $ 65,000 Area, Said Check, Calling It The “True Market Mean,” IE, The AVERAGE COST BASIS FOR ACTIVE INVESORS.
At that Point accounting to check, who spoke on the tftc podcast, the Average Investor May Begin to Feel The Pressure of Unrealized Losses. Even Long-Term Holders, Including Those Who Have Held Bitcoin for Five Years, Could Find Themselves Underwater. Interestingly, This Price Level Aligns Closely with Michael Saylor’s Strategy, Which Has A Similar Cost Basis of AROUND $ 67,500.
WHERE DOES CAPITULATION Take the Market?While Check Expects Sizable Declines from The $ 65,000 Area, He Sees Strong Support in The $ 49,000- $ 50,000 Range, Those Prices Representing The Launch Bitcoin. A Drop to As Low As $ 40,000 Sems Unlikely, He Said, Barring A Global Recession.
Check Also Took Note of the Extended Period of “Chopsolidation” in 2024 – WHERE BITCOIN Traded for MONTHS IN A Wide Range Between $ 50k and $ 70k – As Establishing.
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