Bitcoin
BTC$60 907.24

2.74%

Ethereum
ETH$3 249.66

1.95%

Tether
USDT$1.000483

0.01%

Binance Coin
BNB$545.47

2.44%

Solana
SOL$147.48

3.98%

USD Coin
USDC$1.000054

-0.01%

98% of All Bitcoin Is Now Worth More Than When You Bought It


19 Aug 2020

#Bitcoin

At around $12,000, buying Bitcoin has been a profitable activity on 97.6% of all days since April 2013, data confirms. Bitcoin (BTC) has delivered gains to its holders on almost 98% of all days since 2013, new data confirms. 

According to a dedicated social media-based monitoring resource which tracks profitability, buying Bitcoin has made its holder richer on 97.6% of days.

BTC profitability “characteristic of bull runs”


Put another way, as on-chain analytics service Glassnode noted in its The Week On-Chain weekly report on Monday, 97.6% of Bitcoin unspent transaction outputs (UTXOs) are in profit.

This means that only 2.4% of UTXOs were created — as part of a transaction between wallets — when the BTC price was higher than current levels at around $12,000.

“Extended periods at this level and above are characteristic of bull runs as BTC moves toward new all-time highs (at which point the metric reaches 100%),” Glassnode commented.

Despite a slight pullback overnight on Tuesday, Bitcoin continues to delight hodlers, with monthly gains still at almost 30%.

A retracement for gold and stocks appeared to fuel selling pressure, but under the hood, Bitcoin’s fundamentals remain stronger than ever. As Cointelegraph reported, hash rate has hit its highest ever average rate, while difficulty is set to follow suit at the next readjustment in four days’ time. 

Bullish evidence mounts


Continuing, Glassnode added that each time UTXO profitability passes 95%, it sparks a brief but intense bull run for BTC lasting up to three months.

Other metrics, meanwhile, suggest that Bitcoin is rather at the start of a longer bull run than at the end of a sudden uptick. Specifically, Glassnode’s Compass, which employs a basket of factors to chart Bitcoin’s strength, continues to flash firmly bullish.

“The compass' continued position in the upper right quadrant provides an optimistic signal of continued bullish sentiment and on-chain activity,” the report added. “This trend supports the widely circulating speculation that BTC is indeed in the early phases of entering a bull market.”

Previously, Cointelegraph noted that Bitcoin’s relative strength index, or RSI, was mimicking its performance after the 2016 block subsidy halving, which saw all-time highs of $20,000 a year later.

Source


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 72.4% 48 $60 907.24 2.74% 7.95% $1 201 110 545 769 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 77.6% 46 $3 249.66 1.95% 10.59% $390 660 724 581 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.8% 1 $1.000483 0.01% 0.06% $112 521 291 389 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 74.8% 48 $545.47 2.44% 10.66% $80 502 405 442 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 83.6% 25 $147.48 3.98% 10.54% $68 439 891 003 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 95.2% 1 $1.000054 -0.01% 0.01% $33 955 441 106 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 82.4% 29 $0.529085 0.59% 25.61% $29 525 795 272 XRP 7 days price change
8 Toncoin (TON) TON Toncoin predictions 82% 27 $7.39 1.21% 3.73% $18 514 454 508 TON 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 73.6% 54 $0.115147 2.08% 10.19% $16 709 822 671 DOGE 7 days price change
10 Cardano (ADA) ADA Cardano predictions 78.8% 36 $0.433919 -1.12% 24.20% $15 569 472 122 ADA 7 days price change
11 TRON (TRX) TRX TRON predictions 80.8% 37 $0.137615 -1.83% 10.19% $11 989 577 434 TRX 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 74.4% 48 $26.45 1.86% 2.73% $10 436 162 041 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 74.4% 42 $0.000018 1.88% 12.93% $10 321 337 154 SHIB 7 days price change
14 Lido stETH (STETH) STETH Lido stETH predictions 91.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 92% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change

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