Glassnode, a blockchain data analysis company, predicted the first floor of Bitcoin’s market price at $22,000 (about KRW 28.91 million) in a weekly report on July 18 (local time).




GlassNode mentioned the lowest price of Bitcoin’s bearish market at around $20,000 (about 26.29 million won). The realization price was a tool used by GlassNode to analyze Bitcoin’s market status.
Realized prices, which are also interpreted as market support, are calculated by dividing the realized market capitalization by the total amount of money supplied by the word meaning the average value at which investors purchased Bitcoin.




Based on the time of writing the report, GlassNode estimated the realization price of Bitcoin at 22,092 dollars (about 29.02 million won). Based on the realization price, the average profit and loss rate of Bitcoin investors is known to be 4.67% lost.

The report pointed out that Bitcoin’s fair value is 17,554 dollars (about 23.06 million won). He also warned that if Bitcoin’s price falls below the fair value market price, additional declines could occur in the market. GlassNode commented that the current bitcoin market has been adjusted from its highest point in seven months to the bottom level of the falling market.




In addition to GladNode, Grayscale, a U.S. cryptocurrency asset management company, recently pointed to the current bitcoin market as the lowest point. In a monthly report in July, Grayscale predicted that it would take about eight months to reach the next bullish market, referring to this as the best buying opportunity.
The same realization price index as GlassNode was used to predict the lowest price of Bitcoin.
GrayScale said, “If the market trend is repeated, the bearish market could continue for about 250 days in the future,” adding, “We can see up to 250 days of high value-added purchase opportunities compared to the previous cycle.”