Bitcoin (BTC) is not only on the rise. The market’s largest crypto is on fire, surpassing all-time highs since the start of the year. In this context, a large number of bitcoin holders have made profits.
83% of holders of the flagship crypto are rubbing their hands!
Bitcoin (BTC) has made a big bullish move. The asset passed the symbolic milestone of $35,000, breaking major resistance. This event is significant for crypto users who have acquired given quantities of the queen of cryptos.
According to famous crypto analyst Plan B, the vast majority of BTC investors are in the green. This is particularly what the expert shows in a graph which indicates that around 83% of BTC holders made profits. The 17% with mixed results potentially relate to those who acquired the asset at the height of its valuation.
The graph, published on the social media X, formerly Twitter, does not specify exactly the proportion of profits made. But it is, to say the least, explicit on the sustainability of the margins earned by investors.
It appears that users who have dedicated their funds to the flagship crypto have generally never seen their investments in bitcoin melt. On the contrary, since the crypto’s launch in 2008, BTC profits have never fallen, being at least around 60%.
A trend that always calls for restraint!
If it is true that bitcoin shows more than exceptional dynamism year-on-year, we should not panic. It should be remembered that the crypto market, and that of bitcoin in particular, are extremely volatile.
This means that a bitcoin price, currently around $35,400, is in no way a guarantee of sustained profitability of the asset. Twice this year we have seen the flagship crypto crash after unexpected performances and profits.
In other words, a further drop in valuation, and the losses that go with it, still remain possible. Although, in the current circumstances, the projections of analysts and experts regarding the asset do not seem to go in this direction. Notably due to the possible approval of a spot Bitcoin ETF.
In line with their predictions, the price of bitcoin is expected to continue to rise. This is, to say the least, what you would imagine a crypto analyst like DonAlt should expect. He is one of the few in the crypto ecosystem to have correctly predicted that bitcoin would reach a valuation of $35,000. A level that he struggled to reach until now.
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