As sentiment in the broader cryptocurrency sector has turned more positive and Bitcoin (BTC) has returned to the psychologically important price mark of $37,500, almost 85% of its holders are currently making profits, and indicators suggest that this number continues to rise along with its price could .
Specifically, 84% of Bitcoin holders are making money at the current price of the first crypto asset, while 11% are experiencing losses and 5% are breaking even, according to the latest information Finbold retrieved on November 23 from blockchain analytics platform IntoTheBlock.
Bitcoin holders benefit at the current price. Source: IntoTheBlock
What next?
At the same time, it is important to note that this percentage share of profit by Bitcoin holders has historically preceded even higher profits for these traders, as shown in the chart created by pseudonymous cryptocurrency analyst and investor PlanB, the inventor of Bitcoin stock trading became -flow model (S2F).
According to this expert’s analysis published on November 22nd, at the time of publication, 87% of Bitcoin holders were actually in profit, represented by yellow dots on the chart, ahead of orange dots at around 90% and heading towards 100%, represented by the red dots, suggesting that the price of Bitcoin could continue to rise.
Bitcoin price analysis
Meanwhile, Bitcoin was changing hands at a price of 37,500 at press time, up 2.30% in the last 24 hours, up 0.39% in the last seven days, and up 9.93% over the last month corresponds to the latest charts on November 23rd.
All in all, the above data is certainly a bullish sign for the flagship decentralized finance (DeFi) asset, especially when combined with other positive factors such as the optimism surrounding the possible approval of a spot exchange traded fund (ETF) and the upcoming Halving event.
Disclaimer: The content of this website should not be considered investment advice. Investing is speculative. When you invest, your capital is at risk.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.