Bitcoin Price Prediction: BTC Sits on the $75,700 Cost Basis of Recent Buyers

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Analysis: Bitcoin trades at around $75,900 on Saturday, almost exactly at the cost basis of investors who bought in the past 155 days. Which levels count until the end of November, and what this means for purchases made since June.The cost basis of recent buyers sits at around $75,700.Add as a preferred source on GoogleFollow on Google NewsBitcoin is trading at around $75,900 on Saturday morning, roughly €68,100, according to CoinGecko price data. That puts the price almost exactly on the cost basis of short-term investors, which the analytics firm Glassnode put at $75,700 in its weekly report of November 4. What the data show: most of the coins bought over the past five months are now under water, and three important levels converge below the price between $73,000 and $76,000. Our assessment follows further down. The zone is sturdier than the mood suggests, but a daily close below $73,000 would change the picture. Where the price could head over the coming months is covered in ...