After falling prices, three-quarters of bitcoin holders are still profitable

The latest statistics on the state of bitcoin holders show that about 75% of all addresses with this digital currency are still profitable, despite the fall in prices yesterday. Meanwhile, 67% of long-term holders and only 7% of short-term holders are now profitable.

According to the Coin Telegraph, despite the decline in the price of bitcoin in recent days, data from analyst firm Glassnode show that 75% of portfolios holding bitcoin are still profitable.

In its weekly report on April 11 (April 22), the company surveyed the number of investors who have bitcoins and are profitable. Finally, it is estimated that about 70 to 75% of these addresses are in a state of unrealized profit. Unrealized profits mean that traders have not yet sold their bitcoins, and as the price of this digital currency changes, their profits will increase or decrease. The number of these portfolios is much higher than the declining market in 2018, when 45 to 50% of the portfolios were profitable.

Despite falling prices, three-quarters of bitcoin holders are still profitable
Plot a graph of the number of bitcoin addresses that are profitable.

Analyzing their findings, Golsnood analysts said the current downtrend is much better than the previous downtrend.

They said:

The current downtrend is not as turbulent as the worst stages of previous cycles. Only 25 to 30 percent of market participants are now at unrealized losses. It remains to be seen whether more pressure on sales, as in previous cycles, will lead to further market declines and a loss of investors.

According to Golsnood, long-term bitcoin holders are very unlikely to lose. This group of investors are those who hold this digital currency for more than 155 days and more than 67.5% of them are in a state of unrealized profit. Only 7.88% of short-term bitcoin holders who have held the digital currency for less than 155 days now make a profit.

Bitcoin is now back on the downside, hovering around $ 40,000. Some analysts speculate that the price of bitcoin could fall to $ 30,000. However, available data show that some retailers are trying to raise the price back to $ 50,000.

According to the report, 58% of units in the bitcoin network are profitable; That is, they are purchased at a lower price than current prices. It should be noted that this has never happened since December 2021 (Azar 1400).

Despite falling prices, three-quarters of bitcoin holders are still profitable
Draw a graph of the volume of bitcoins that are profitable.

According to Glesnood, downward trends often lead to long periods in which traders lose money. During this period, when large volumes of bitcoins in the network are profitable, the feelings of traders may change; Because the demand of buyers can meet the pressure on sales.

However, Golsnood writes in his report:

The fact that prices are still not rising shows that market demand is a bit weak. However, market power, no matter what, [اکثر] Investors are still making a profit.

Analysts at the site add that since mid-February (February 1400), about 13,300 bitcoins have been profitable. In addition, although 20,000 bitcoins were in the loss range in January (December 1,400), the number of these bitcoins has now dropped to 8,399.

According to Golsnood, although most bitcoin transactions and addresses are profitable, the number of users and network transactions of this digital currency is still declining.

The number of daily transactions on this network is currently the size of the declining market from 2018 to 2019, ie about 225,000. Although the number of these transactions is increasing from mid-2021, analysts say that amount is still is far from previous uptrend cycles.

Thirty-four bitcoin holders are still making a profit after falling prices first appeared in Currency Digital.

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