indicate that in the end, holding has proven to be the working strategy, considering investors who acquired BTC during the second half of 2022 and during the first half of 2023 are still sitting on unrealized profit because Bitcoin price continues to hold above the equilibrium level of $23,933.The $23,933 equilibrium level aligns with the 50% Fibonacci Retracement level using a market range measured from the range low of $15,429 to the range high of $32,438.
The equilibrium level at $23,933 marks the break-even price. As such, Bitcoin price holding above it at the current value of $26,304 shows that buyers who accumulated halfway through the bear market remain in profit. If we consider them long-term buyers, then they remain above their entry prices.
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