According to Longhash, the actual market value of Bitcoin (Realized Cap) has reached the highest price in history. When the Bitcoin bubble appeared in 2017, the actual market value of Bitcoin hovered around $90 billion. But a few days ago, the market value quickly broke through this level. At present, the actual market value of Bitcoin exceeds $93 billion and continues to climb. This means that the cost base of Bitcoin investments is higher than ever. The average purchase price of Bitcoin holders is between $5,000 and $6,000 per coin. Moreover, this phenomenon has caused the 2017 bitcoin bubble to reappear. Although bitcoin prices have risen to $19,000, the reality is that there are few transactions at these price levels. Most investors either insist on the entire bitcoin bubble or trade at the lowest price between the two peaks. Babbitt Note: Realized Cap refers to the market value obtained by accumulating the last transaction price of each token and multiplying by the number of transactions.