Bitcoin Holders Still Profitable Despite Price Drop
Bitcoin investors around the world are still enjoying significant gains despite the recent drop in the BTC price. According to data from the on-chain tracker IntoTheBlock, around 83% of the 53.57 million Bitcoin holders are currently in profit, even as the price dipped below $60,000 and currently hovers around $56,000.
- Around 17% of total BTC holders are not in profit
- 13% of holders are losing money
- 4% of holders are at breakeven
- 44.61 million Bitcoin investors are still enjoying profits
The majority of these profitable investors entered the market at prices below $50,000, indicating that even with further price drops, the majority of Bitcoin holders would still be in profit.
Long-Term Bitcoin Holders Face Potential Losses
Despite the overall profitability of Bitcoin investors, long-term holders are facing the risk of losses for the first time in over a year. According to a Sentiment report, the average returns of Bitcoin long-term holders are at risk of turning negative.
Historically, when the average long-term holder returns have fallen into the red, it has presented a good buying opportunity. Santiment suggests that buying during such periods can lead to significant returns, with a potential +132% return on BTC if bought during similar past instances.
These developments often signal a potential bottom in the market and can be a good indicator of when to start buying Bitcoin.
Closing Notes 🚀
Despite the recent price drop below $60,000, the majority of Bitcoin holders remain profitable, with the majority entering the market at prices below $50,000. Long-term holders may be facing potential losses, but history shows that these situations can present excellent buying opportunities with significant returns. As always, do thorough research and consider your risk tolerance before making any investment decisions in the crypto market.
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