Join our TELEGRAM channel and get instant notifications!
Bitcoin survived an incredible 24 hours after the price rose above $1,500. This price jump has several positive implications – including profitability for investors who hold the cryptocurrency. While less than half of all investors were in profit when BTC fell below $19,000, the recent recovery has pushed the percentage higher again.
Bitcoin: 50% is in profit
According to data from IntoTheBlock, half of all Bitcoin investors are making gains at current prices. The 7.7 percent price jump over the past few days ensured that more investors were able to make profits with their coins again.
Currently, the percentage of investors who have the money is exactly 50%. Even more interesting is the percentage of investors who are currently in neutral territory. At 11%, the data shows that a large number of investors bought his BTC in the $20,000 range. The percentage of those making losses is currently 39% of all investors.
The composition of holders by length of tenure also suggests a pattern where long-term holdings lead to greater profits. A total of 63% have held their coins for more than one year. On the other hand, 32% have kept their coins between one and 12 months.
Looking now at the market and the prices at which the cryptocurrency has traded in the past year, it is clear: those who bought their coins in the past year are most likely to make losses. On the other hand, those who bought over a longer period of time are more likely to make profits. This again emphasizes the importance of staying in the crypto market for the long term.
But: Are investors bullish on Bitcoin?
The price drop from $69,000 to the current level has caused some panic in the market. This is made worse by the fact that many investors are selling their coins to avoid further losses.
One alarming development is the amount of BTC supply currently active in the market. Throughout the bull market, the amount of active supply remained low – until the downtrend began. This resulted in an active supply of nearly 1 million bitcoins in the market, making it a 22-month high.
The last time such a high supply was active was in October 2020. Interestingly, right at the beginning of the bull market. Therefore, such high active supply may favor the current recovery and push the price higher. This would mean that the market bottomed out at $17,600. Along with the slowly increasing accumulation trend, this is an indication of potentially rising prices.
Text credit: Newsbtc
Last updated September 10, 2022
The Tamadoge Presale has started!
- Best Play2Earn Crypto
- An emerging meme base
- The pre-sale started on 08/02/2022
- Best New Signal 2022
Crypto Launchpad: The Best Telegram Group!
- Neutral market analysts
- Daily summary: winners/losers of the last 24 hours
- All because of the current NFT hype
Cryptocurrencies are a highly volatile, unregulated investment product. Your capital is at risk.