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šø Bitcoin $171K šø
āØ The realized price of Bitcoin (for short-term holders) is now up about 58% year-to-date. In the previous market cycle, when this number reached 165% and 144%, Bitcoin approached the price peaks of $70,000 and $100,000, and then heavy selling to take profits began.
āØ Now, if we want this ratio to increase from 58% to about 140% (i.e., grow another 82%), the price of Bitcoin would have to go from its current price of about $94,000 to about $171,000.
š Footnote: All models are wrong somewhere, but some of them really work..
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