Bitcoin Hits $35,000 Again
Even with the recent slowdown, Bitcoin (BTC) has once again surpassed the $35,000 mark for the second time in a week and is currently hovering in the upper $34,700’s. Almost 80% of Bitcoin holders are currently profiting from their investment, and the crypto community is eagerly anticipating what will happen next.
According to blockchain and cryptocurrency analytics platform IntoTheBlock, over 78% of Bitcoin holders are in profit at the current price of the decentralized finance (DeFi) asset, while only 17% are experiencing losses. This data was shared in a post published on November 6.
Rising Network Activity
Bitcoin has also seen a significant increase in network activity, with more than 700,000 new addresses joining in a single day on November 4. This surge in new addresses is a sign of renewed investor optimism, especially in light of the potential for a first Bitcoin spot exchange-traded fund (ETF), as reported by Finbold on November 6.
Hot Take: The Future of Bitcoin
As Bitcoin continues to show resilience and attract more investors, its future looks promising. With the majority of holders currently profiting from their investment and increasing network activity, it’s clear that confidence in Bitcoin remains strong. The possibility of a Bitcoin ETF further adds to this positive outlook, indicating that the cryptocurrency market is poised for continued growth and development.
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