• Bitcoin prices have risen to a new yearly high and have placed buyers from 2019 back in the green.
• Buyers from 2020 and 2021 are still in the red on average, with prices needing to move above $28K for them to see a profit on holdings.
• According to Glassnode, the average withdrawal price for 2019 was $21,800.
The cryptocurrency world has been buzzing in recent weeks as Bitcoin has been on a tear, rising steadily from the doldrums of the last few months. Bitcoin prices have now reached a new yearly high as of Monday morning, and this has been cause for celebration for a particular cohort of Bitcoin buyers.
According to Glassnode, buyers from 2019 are now back in the green, as the average withdrawal price for that year was $21,800. This means that those who bought Bitcoin in 2019 have seen gains on their investments since the price has now exceeded this level.
Meanwhile, buyers from 2020 and 2021 are still in the red on average. For them to see a profit on their holdings, prices need to move above $28K. As of Monday morning, Bitcoin was trading at just over $23,800, so prices still have quite a bit of distance to go before this group of investors can benefit from its recent gains.
The news of Bitcoin buyers from 2019 being back in the green has been a source of optimism for the cryptocurrency market, as it shows that the recent surge in prices is having a positive effect on those who have invested in Bitcoin in the past. This is likely to be a positive sign for the future of the cryptocurrency, as it demonstrates that investors are still confident in its long-term potential.
At this point, it remains to be seen how far Bitcoin will go in 2021. If prices continue to rise, then more and more investors may begin to break even and even turn a profit. Only time will tell how this all plays out, but for now, those who bought Bitcoin in 2019 can celebrate the fact that they are now back in the green.