Separately, the coin industry is now showing clear signs of recovery. In particular, the market capitalisation of the cryptocurrency market – that is, the product of all coins in circulation by their exchange rate – has once again surpassed the $2 trillion mark. Consequently, the digital asset niche is once again approaching its all-time high of 3.08 trillion, which was recorded on 9 November 2021.

Cryptocurrency market capitalisation chart

Bitcoin itself also showed strength today. The first cryptocurrency managed to rise in value, including above $45,000, which has not been seen since February 10th. Here is a daily chart of the BTC exchange rate. It also shows the historical record for the coin at $69 thousand.

Bitcoin’s daily rate chart

Be that as it may, some crypto investors do follow a “buy higher and sell lower” pattern.

What cryptocurrency investors do

The market situation was traditionally analysed by Glassnode experts. To do so, they used the so-called URPD indicator, which stands for the realized value distribution of UTXO. The indicator itself tracks the value of bitcoins as they last moved. This provides an insight into the actions of investors.

Bitcoin’s rise in value

According to the data, more than half of the coins bought around $60,000 were sold at the $35,000 and $38,000 levels. Consequently, investors accepted the loss of money and sold the coins at a significant disadvantage.


It is important to note here that after Bitcoin's record high in November, its low was the $32,917 line. Consequently, many investors got rid of the asset at almost the lowest price possible. And given today's $44,000 to $45,000 per BTC, they clearly regret their decision.

Glassnode analysts also examined URPD last year and compared it to what is happening today. For example, as of May 10, 2021, the figure was in the tight range of $54,000 to $60,000, which means investors were indeed actively buying the asset as it surged.

That said, a few days later, the niche experienced one of the loudest declines in the cryptocurrency’s history. Experts have described the event as “passing cryptocurrencies from weak hands to strong hands”.

In November 2021, BTC set a new record of $69,000. According to experts at the time, investors’ cryptocurrency was mostly bought in the $35,000, $47,000 and $62,000 zones. According to the report, BTC buyers successfully disposed of coins between May and July from August to November.

Here’s the analysts’ commentary on the situation, cited by Decrypt.

This investor behaviour describes the state of the market, which is dominated by long-term holders who are insensitive to rate changes. They don’t want to get rid of their coins and even hold them at a loss.

The rise of Bitcoin and other cryptocurrencies

In other words, many market participants are confident in the prospects of the first cryptocurrency and are not going to sell it. The same is probably true for many other alternative projects.

Overall, the situation around the perception of cryptocurrencies does continue to change. The day before, entrepreneur Ken Griffin joined the camp of fans of digital assets. As a result, he wants his multinational hedge fund to give investors an opportunity to connect with crypto.

Previously, Griffin advised members of the younger generation not to get involved with crypto because “there is no need for cryptocurrencies”. Now he has a different opinion. Here’s the investor’s rejoinder, cited by Cointelegraph.

It’s fair to assume you’ll see our serious involvement in the cryptocurrency market in the coming months.

Ken continues.

I will be frank: I have indeed been among the cryptocurrency sceptics for a long period of time. However, today cryptocurrencies have a $2 trillion market capitalisation, which suggests I was wrong in my prediction.

According to the expert, he would still be a sceptic, but millions of people around the world “wouldn’t agree with that”.

The power of Bitcoin


We believe that the digital asset industry does deserve the faith of more investors. And since many celebrities are slowly moving to the side of digital asset fans, that means the blockchain appreciation camp will only get bigger over time. And that's clearly a good trend for the prospects of coins.