Possible rally ahead
The crypto analyst emphasizes that this phenomenon, where the realized price of Bitcoin (RP) exceeds the realized price of long-term holders (LTH RP), usually occurs in June. He suggests there is a good chance we could see a similar development this month.
“The interesting thing about this is that this usually happens in June,” the analyst explains. “Except in 2012 when Bitcoin was still in the startup phase – then it happened in August. It also happened in June 2016 and in June 2019. Can we expect another scenario like this in June 2023? This is certainly a point to keep an eye on. Should it happen, we can expect an impressive price increase.”
He does note, however, that after the price spike there is usually a small correction. He reminds his followers of the correction in 2020, which was caused by the Covid-19 pandemic. But overall, he argues, after such June peaks, history shows a continued upward trend.
“So, we need to closely monitor whether the realized price of Bitcoin will exceed the realized price of the long-term holders. Because if that happens, an impressive price increase could follow. So we have to prepare for the possible lift-off.”
Many are familiar with the saying, “Sell in May and go away.” But looking at what could happen in June, that could be a big mistake.
