Of the 4,593 days of Bitcoin’s existence as a tradable asset, BTC hodlers experienced 4,065 profitable days — challenging the historical narrative of depreciating volatility in crypto. As a result, holding Bitcoin (BTC $28,075) is provably profitable in the long run.
Bitcoin’s historical price performance confirms that a hard limit on total supply and seamless global usability is critical to becoming a store of value. Data from Blockchain.com shows that Bitcoiners enjoyed 88.50% of profitable days relative to the current market price at the time of writing.
Number of days in which holding bitcoin has been profitable, relative to current price. Source: Blockchain.com
As shown above, just 531 or 11.56% of the 4,593 days were unprofitable for long-term holders. The unprofitable days are between Dec. 28, 2022, and June 12, 2022, a time when Bitcoin was priced above the $26,246.58 and $28,344.5 range.
The revelation highlights the importance of understanding Bitcoin’s market cycles and why investors should avoid buying the tops and selling the dips. However, some traders prefer making daily trades on crypto exchanges for much smaller but consistent profits.
In a recent publication, Cointelegraph detailed the different types of crypto investors and categorized them based on their investment mindset. As mentioned, there are four main categories of mindsets of crypto bag holders: maximalists, hodlers, fomoers and traders. Read more to find out which one you are.
In the Bitcoin ATM ecosystem, manufacturer General Bytes closed down its cloud services after discovering a “security vulnerability” that allowed an attacker to access users’ hot wallets and gain sensitive information.
“We’ve concluded multiple security audits since 2021, and none of them identified this vulnerability,” General Byes founder Karel Kyovsky concluded as he made the announcement.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
Follow us on Telegram
Stay updated of all the news
Bitcoin likely to remain in red through the next quarter if history is any indication
Bitcoin (BTC) price produced a monthly close at $27,210, noting a -6.92% return for May. The last-minute slide in BTC put an end to the four-month bullish streak that kickstarted the 2023 rally.
Ethereum vs. SEC: Implications of Wahis’ insider trading settlement on ETH
Ethereum (ETH) is the subject of a new controversy, with the second-largest crypto finding itself in the rut after the United States Securities and Exchange Commission (SEC) settled its insider trading case against the Wahi brothers.
Justin Sun’s TRON hits all-time high of 10.9M daily transactions, braving crypto winter
Justin Sun, the founder of TRON – one of the largest decentralized blockchain DAO ecosystems in crypto – shared a new milestone for the token on Thursday. TRON processed 10.9 million in daily transactions, hitting a record high.
Ethereum fees decline by 70% from 2023 highs as top DeFi protocols lose users
Ethereum is currently facing trouble in the spot market due to the broader market bearishness as well as investors' skepticism. But while the spot market only recently took a turn for the worse, the DeFi space has been only negative for a long time.
Bitcoin: BTC delays inevitable crash to $25,000
Bitcoin price is delaying a crash that has been brewing for roughly two weeks. A failure to push higher could result in a steep correction next week. The troubling macroeconomic conditions could be key in catalyzing and trigger a nosedive for BTC holders.