Cryptocurrency

Bitcoin ETF

Bitcoin

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 <p class="paragraph">As the sentiment in the general cryptocurrency sector has turned more positive and Bitcoin (BTC) returned to the psychologically important price mark of $37,500, nearly 85% of its holders are currently in profit, and indicators suggest this number could further grow along with its price.</p>
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 <p class="paragraph">Specifically, 84% of Bitcoin holders are making money at the maiden crypto asset’s current price, while 11% are in loss, and 5% are breaking even, according to the most recent information retrieved by Finbold from the blockchain analytics platform <em>IntoTheBlock</em> on November 23.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/dbe4UkOXGYZBUWvDwydJwnf9q-cbZv8PMcUAxlhZyhB7oAXbsU5beWnN7cxQNvaWjnOlAxzONZBr36wcJ2k0lseOEzPAkPrP8uSBA7lti_SSS7_MMWChMKG72OklOmvkcXfqnwcZUPCK5cgq2eH9hqs" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin holders in profit at current price. Source: </em><em>IntoTheBlock</em>
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 <h2 class="wp-block-heading" id="h-what-next">What next?</h2>
 <p class="paragraph">At the same time, it is important to note that this percentage of Bitcoin <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a> in <a rel="noopener noreferrer nofollow" title="profit" href="https://thebittimes.com/tag/profit.html">profit</a> has historically preceded even higher gains for these traders, as demonstrated in the chart developed by pseudonymous cryptocurrency analyst and investor <em>PlanB</em>, the creator of the Bitcoin stock-to-flow (S2F) model.</p>
 <p class="paragraph">Indeed, according to this expert’s <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> shared on November 22, 87% of Bitcoin <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a> were in <a rel="noopener noreferrer nofollow" title="profit" href="https://thebittimes.com/tag/profit.html">profit</a> at the time of publication, represented in the chart as yellow dots, preceding orange dots at around 90% and toward 100% depicted by the red dots, suggesting that the price of Bitcoin could continue to grow.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/CBRjjL7hyuBau62fPD3vMSUegM2BRo_BoLsxN0MzqCnn9ljL62bJBdlz0Zno7_Na1DW9LdWZRo7chL5BjBu8pprPp_qnV2b6KIuMGJEkZTqdNclAAhm-mNfavUqkkYeQhZ0GfQDqtCa0M0_FVmiV1Xo" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin holders in profit vs. price. Source: </em><em>PlanB</em>
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 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
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 <p class="paragraph">Meanwhile, Bitcoin was at press time changing hands at the price of 37,500, which represents an increase of 2.30% in the last 24 hours, a 0.39% gain across the previous seven days, and a 9.93% advance over the past month, as per the most recent charts on November 23.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/KHRhCfy7Hq17bwKN1pTxxScrsMVLZEh7GrQ-a3M8eMS2XgUkb1E8J-jiyyEK7QRGykOsAz1fUOLgVPApvuFX_Pllv726i6Bkj3BnjO8AGp-JjBdRvtFEkzKjOtVHvRac8EXJvdWtMI2Aay4kPfZPz9Y" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin 7-day price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">All things considered, the above data is certainly a bullish sign for the flagship decentralized finance (DeFi) asset, especially in combination with other positive factors, such as the optimism regarding the possible approval of a spot exchange-traded fund (ETF) and the upcoming halving event.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/what-s-next-for-bitcoin-as-85-of-btc-holders-are-in-profit-tbt71341.html">https://thebittimes.com/what-s-next-for-bitcoin-as-85-of-btc-holders-are-in-profit-tbt71341.html</a></p>

What’s next for Bitcoin as 85% of BTC holders are in profit?

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