Investors who purchased Bitcoin in 2019 are back in profit, according to data analyzed by Glassnode and CryptoSlate. The average acquisition price can be derived by tracking exchange data and aligning the price of Bitcoin with the time of withdrawals.
The below chart illustrates the average acquisition price of Bitcoin since its inception.
Interestingly, the average historical price is not consistent across exchanges. The average price for all exchanges sits around $16.7k, while Coinbase and Binance are around $21k. With Bitcoin’s price well above $23.5k, all exchanges are, on average, in profit. The broader market may welcome such data as it indicates market stress has been reduced.
Notably, Bitfinex investors have a considerably lower average withdrawal price of around $11,000. Given that Bitcoin has been above $11,000 since October 2020, such a low price makes it a considerable outlier.
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