Bitcoin Profitability Jumps As Price Adds $1,500 In 24 Hours


Bitcoin experienced an incredible 24 hours after the price of the digital asset added over $1,500. This jump in price came with a number of positive effects, including the profitability of investors who hold the cryptocurrency. Where less than half of all investors were profitable when BTC fell below $19,000, the recent recovery has pushed the ratio higher again.

50% in profit

according to Data from IntoTheBlockHalf of Bitcoin investors are currently posting profits at current prices. A 7.7% jump in the price of the digital asset over the past day showed that more investors saw gains on their coins once again.

Currently, the ratio of investors who are in the money is an ideal 50%. Even more interesting is the percentage of investors who are currently in the neutral zone. At 11%, the data shows that a large number of investors have already bought BTC in the $20,000 region. As for the losers, it currently represents 39% of all investors.

The formation of the holder over time also points towards a pattern of long-term holding that leads to more profits. A total of 63% of their coins have held for more than one year, while 32% have held their coins for between 1 and 12 months.

Now, looking at the market and the prices at which the cryptocurrency has traded in the past year, it is clear that those who bought their coins in the last year are more likely to be at a loss, while those who bought over a longer period of time are more. You are likely to make profits. We once again reiterate the importance of long-term holding in the cryptocurrency market.

Bitcoin price chart from TradingView.com

BTC recovers close to $21,000 | Source: BTCUSD on TradingView.com

But are investors bullish on Bitcoin?

With the price dropping from $69,000 to the current level, there was some panic in the market. To make matters worse, many investors are selling their currencies in order to avoid incurring further losses.

One worrying development is Amount of Bitcoin currently active in the market. Throughout the bull market, the amount of active supply remained low until the downtrend started. This has resulted in nearly 1 million bitcoins being put on the market, the highest level in 22 months.

The last time such a high bid was active was in October 2020. Interestingly enough, this was the beginning of a bull market. So it is possible that this high active supply could play a role in the current recovery and push the price higher. This actually means that the market bottom was reached when it touched $17,600. added to Accumulation direction Who builds them slowly, she spells out a recipe for higher prices.

Featured image from NDTV.com, chart from TradingView.com

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