Bitcoin Profitability Jumps As Price Adds $1,500 In 24 Hours!
Bitcoin has seen an incredible 24 hours after the price of the digital asset added more than $1,500. This jump in price has come with a number of positive implications, including the profitability for investors who are holding the cryptocurrency. Where less than half of all investors had been in profit when BTC had declined below $19,000, the recent recovery has pushed the percentage upwards once more.
According to data from IntoTheBlock, 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.
Presently, the percentage of investors who are in the money is at a perfect 50%. Even more interesting is the percentage of investors who are currently in the neutral territory. At 11%, the data shows that a good number of investors had actually purchased their BTC in the $20,000 territory. As for those in loss, it currently sits at 39% of all investors.
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.