Bitcoin network value at all-time high based on average price paid per BTC102

The value of the Bitcoin network is at all-time highs based on the average price holders paid for their coins. The metric used, realized market capitalization, is also a surprisingly effective indicator for predicting BTC market tops and bottoms.

Market capitalization gives a skewed value for the Bitcoin network. Borrowed from the realm of traditional equities, market capitalization is the price of all coins in circulation multiplied by the last price the coin traded at.

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