Cryptocurrencies

80% of Bitcoin Addresses (BTC) are in profit (Glassnode) – Cryptocurrencies

Bitcoin (BTC) is just a speculative bubble that will eventually explode, it’s empty, blah blah blah: one thing is certain, it is that Bitcoin earns more than 80% money people who decided to adopt it instead of wasting their time brewing the wind. Statistics are often on the side of Bitcoin: unlike some skeptics who continue to delight in their cognitive blindness.

8 out of 10 profitable BTC addresses

A study published by Glassnode indicates that at least 83% of addresses Bitcoin would be profitable.

This situation contrasts with the situation in March 2020: indeed, after the Black thursday, only 40% of addresses BTC were then profitable, one of the lowest levels recorded for this year 2020.

The highest annual price in the Bitcoin was reached on 01 June 2020, at 10,400 USD, bringing the proportion of addresses to 89% BTC making a profit.

This level is close to that of June 2019, during which the price of Bitcoin had reached 13,900 USD, the number of addresses BTC profitable then reached 95%.

Nice stats for bulls

The statistics of Glassnode are a positive indicator for a long-term uptrend, which we are still waiting for while Bitcoin has been consolidating below 10,000 USD for 8 weeks.

Another study published by Chainalysis suggests that 60% of Bitcoins in circulation would be placed for long-term investment, explaining why the current selling pressure is not significant enough.

Chainalysis also revealed that of the 18.6 million Bitcoins mined, only 3.5 million – or 19% – would be traded regularly on exchanges.

Since halving, the course of Bitcoin briefly exceeded the 10,000 USD threshold, a key level to start a bull run: however, Bitcoin has so far failed to consolidate sustainably in the 5-digit range, and its price has even recently made a foray below $ 9,000.

100% of BTC addresses registering a profit: possible? Over 80% is already an impressive figure. The remaining 20% ​​will have to wait a little longer, until the bulls regain enough strength to run towards new ATHs.

Tags

Related Articles

Back to top button
Close
Close