BTC has witnessed a tremendous rise in the past 24 hours as the flagship currency’s price adds over $1500. Other benefits accompanied the price increase, such as high profitability for Bitcoin investors.
Over 50% Of BTC Investors Are In Profit – IntoTheBlock
As per IntoTheBlock data, more than half of BTC investors are recording profit with the recent price increase. The digital asset’s price recently jumped by about 7.7% after dipping below $19k last week.
Currently, the number of investors at a profit is precisely 50%. Another interesting situation is the number of investors in the neutral zone.
According to IntoTheBlock, over 11% Of investors bought their Bitcoin at the $20,000 level. Those who are recording losses currently stand at about 39%.
Furthermore, the holder composition showed that long-term holders ran into profit. Over 63% of Bitcoin investors held their assets for more than a year, while 32% held for between 1 to 12 months.
Judging by the present market situation and the price of BTC in 2021, several investors are at a loss. Investors who bought Bitcoin when the currency was in a bullish trend Will be recording losses.
Those who bought before the bullish season will still be in profit even if it is small. This reiterates the importance of long-term holding to profit in the cryptocurrency market.
When Bitcoin declined from $69,000 and dropped below $20,000, there was panic among investors. Another situation that exacerbated the crisis was the massive sell-off by investors to avoid more losses.
Number Of Active Bitcoin In Supply Increases
Meanwhile, another alarming occurrence recently is the increase in the number of that active Bitcoin supply in the market. The volume of active supply stayed modest during the bullish market until the decline started.
This has resulted in about 1 million Bitcoin active supply on the market. This surge is the highest in the past 22 months.
October 2020 was the last time the currency witnessed such a high supply. It is worth saying that the coin’s price skyrocketed immediately after the increased supply in 2020.
Hence, it is likely that similar events may occur this time around and push the price up. This would mean that Bitcoin hit rock bottom at $17,600. Moreover, the accumulation trend that is gradually building up could be the signal for a possible bull run.
As of the time of writing, the price of Bitcoin has surged by over %3.28, trading at $21,352. Also, the second largest digital asset by market cap, Ethereum, is in the green region. The coin is currently trading at $1,718.97.