Despite the historic downfall, most Bitcoin investors are still profitable: report

The Bitcoin market suffered one of the worst crashes in its 12-year history. Still, despite its massive adoption in the past few days, most Bitcoin investors continue to make a profit. While it's true that the collapse was partly due to sales panic, most long-term owners are unable to mint their coins, according to blockchain analytics firm Glassnode, whose latest figures show 73.17% of all Bitcoin "assets". still exists. . in black. "Entity" is defined by Glassnode as a set of addresses managed by the same network entity. In a report released this week, the company stated that "the Bitcoin market has just experienced the biggest leverage reduction since the March 2020 sale" – but when all is said and done, the coin holders are lost. "buyers of the last 3-4 months most." In other words, although Bitcoin is currently trading at almost half of its all-time high of around $ 64,000, most investors have reached far beyond the current levels of around $ 37,000. "During this massive sale of the delivery, expenditures for 1 to 3-year parts were actually significantly less and decreased as a percentage of the total activity," the report adds. "This shows that the elders don't panic or run to the exits." Data shared with Decrypt also showed that the number of large whales – wallets containing 10,000 or more Bitcoin ($ 382 million worth of cryptocurrencies) – also dropped from 85 to 90 on sale, meaning larger investors are given more buying opportunities. Bitcoin. Still, there is no denying that Bitcoin has been tough last week. A combination of factors ranging from Elon Musk's tweets to regulatory news about China has helped push the biggest cryptocurrency through its market value collapse. Last week, it dropped 52% from its all-time high in April to $ 30,000 per coin. The Province Of China Proposes To Put Bitcoin Miners On The Social Credit List: Report Overall, Data

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