50% Are In Profit
According to , half of all bitcoin investors are currently recording profit at current prices. The 7.7% jump in the digital asset’s price over the last day had seen to it that more investors saw gains on their coins once more.The holder composition by time also held points towards a pattern of long-term holding leading to more profit. A total of 63% have held their coins for a period of more than 1 year, while 32% have held their coins for between 1-12 months.
Now, looking at the market and the prices the cryptocurrency was trading at in the last year, it is obvious that those who bought their coins in the last year are most likely to be at loss, while those who bought over a longer timeframe are more likely to be in profit. Once again reiterating the importance of long-term holding in the crypto market.
BTC recovers close to $21,000 | Source:
But Are Investors Bullish On Bitcoin?
With the decline in price from $69,000 to the current level, there has been some panic in the market. This is further escalated by the fact that a lot of investors are moving to sell their coins in order to avoid incurring more losses.One alarming development is the . Throughout the bull market, the amount of active supply remained low until the downtrend began. This has led to almost 1 million BTC active supply in the market, marking a 22-month high.
Featured image from NDTV.com, chart from TradingView.com
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