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Since January 2017, Whales Bought BTC at an Average Price of $15,800 (Analysis)

George Georgiev Oct 6, 2022 15:06
According to a popular analytics resource, the average cost basis for BTC whales with more than 1,000 bitcoins sits at around $15,800.

Bitcoin’s price appears to be stuck in a relatively wide range between $18,000 and $24,000 for the past couple of months, and it’s unable to escape.

Meanwhile, data from the popular cryptocurrency analytics resource, Glassnode, revealed the average price that whales have been accumulating since January 2017.

  • According to Glassnode, Bitcoin whales bought Bitcoin at an average price of about $15,800 for the period between now and January 2017.
  • To be precise, these are wallets that have more than 1,000 BTC.

If we assess Bitcoin volumes flowing in and out of exchanges by Whale sized entities (>1K BTC), we can estiamte their cost basis (Realized Price).

The average price of Whale Deposits/Withdrawals since Jan-2017 is currently around $15.8K.

Source: Glassnode

 

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George Georgiev

Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

Tags: Bitcoin (BTC) Price

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