Bitcoin (BTC) is not just popular, it’s on fire, surpassing unbeatable highs since the beginning of the year. In this context, many bitcoin holders have made profits. 83% of flagship cryptocurrency holders are rubbing their hands in glee! Bitcoin (BTC) has made a big bullish move...
Bitcoin (BTC) is not just popular, it’s on fire, surpassing unbeatable highs since the beginning of the year. In this context, many bitcoin holders have made profits.
83% of flagship cryptocurrency holders are rubbing their hands in glee!
Bitcoin (BTC) has made a big bullish move. The asset has crossed the symbolic $35,000 mark, thus breaking a major resistance. This event is significant for crypto users who have acquired substantial amounts of the queen of cryptos.
According to the famous crypto analyst Plan B, the majority of BTC investors are in the green. This is evident from the expert’s graph, which indicates that approximately 83% of BTC holders have made profits. The 17% with mixed results potentially acquired the asset at its highest valuation.
The graph, published on the social media platform X, formerly Twitter, does not specify the exact proportion of profits made. However, it is quite clear about the sustainability of the margins earned by investors.
It can be inferred that users who have dedicated their funds to the flagship cryptocurrency have generally never seen their bitcoin investments diminish. On the contrary, since the launch of the cryptocurrency in 2008, BTC profits have never fallen below about 60%.
A trend that always calls for caution!
Although it is true that bitcoin has shown exceptional year-on-year dynamism, there is no need to panic. It must be remembered that the crypto market, and the bitcoin market in particular, are extremely volatile.
This means that a bitcoin price, currently around $35,400, is by no means a guarantee of sustained profitability of the asset. Twice this year, we have witnessed a crash of the flagship cryptocurrency after unexpected performances and profits.
In other words, a new decrease in valuation, along with the resulting losses, is still possible. Even though, in the current circumstances, analysts and experts’ projections regarding the asset do not seem to indicate this. This is particularly due to the possible approval of a Bitcoin spot ETF.
In line with their predictions, the price of bitcoin should continue to rise. This is at least what one would expect from a crypto analyst like DonAlt, who is one of the few in the crypto ecosystem who accurately predicted bitcoin would reach a valuation of $35,000. A level it struggled to reach until now.