Glassnode: Bitcoin Set to Finish 2023 as it Started, October Gains Near 30%
According to on-chain analytics firm Glassnode, Bitcoin is expected to end 2023 in a similar position to where it started, with gains of nearly 30% in October. The firm's researchers noted that the past week has set the foundation for a BTC price uptrend, with the cryptocurrency convincingly beating out resistance levels and surpassing various key trendlines. This has led to improved profitability for various investor cohorts, with the short-term holder market value to realized value ratio tracking the profitability of STH coins. Glassnode is optimistic about the end of the year, stating that the market has crossed over several key levels where aggregate investor psychology is likely to be anchored.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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