Tracking Bitcoin's movements, it's interesting to see that the average acquisition price range of investors as of 2023 is still being considered. Focusing on the price ranges of those who bought during that period, a trend of decreasing volatility is becoming apparent.

Compared to past cycle patterns, it feels like investors' behavior has become much more rational this time. Panic selling is less common, and sharp surges and drops are not as extreme as before. The market may be maturing.

Especially since institutional investors have entered, I feel the nature of volatility has changed. It's moving differently than in the era of only individual investors. Whether this stable trend will continue or if there will be significant movements in the next cycle is worth paying close attention to.