Bitcoin's realized price of $20,129 is just 3.5% below the realized price of $20,845 for LTH (Long Term Holders). LTH's realized price has been steadily declining since November of last year. In its May 12 weekly newsletter, Blockware Solution said, "Looking at the realized price of LTH and the realized price of Bitcoin (the total cost basis for all market participants), they are approaching a bullish crossover, which is an accurate signal of a previous bear market bottom." Two previous crossovers occurred in June 2019, May 2016 and September 2012, paving the way for a multi-year bull market.