Investors who bought bitcoin in 2019 are recapturing their profits, according to data analyzed by. glass node and crypto slate. The average acquisition price can be derived by tracking the exchange data and aligning the Bitcoin price with the time of withdrawal.
The chart below shows the average acquisition price of Bitcoin since its inception.
Interestingly, historical average prices are not consistent across exchanges. The average price across all exchanges is around $16.7k, while Coinbase and Binance are around $21k. All exchanges are profitable on average as the price of Bitcoin is well above $23.5 thousand. Such data may be welcomed by the broader market as it indicates that market stress has eased.
Notably, the average withdrawal price for investors on Bitfinex is fairly low at around $11,000. Considering Bitcoin has been above $11,000 since October 2020, such a low price is quite an outlier.
Bitcoin investor returns of over $21.8k since 2019 first appeared on CryptoSlate.