The Bitcoin price is displaying tremendous performance. According to newly released data, 97% of Bitcoin addresses are in profit as the BTC price has touched the $15,000 mark.
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97% of Bitcoin Addresses Displaying Profit
Image Source: Glassnode
According to the data published by Glassnode, 97% of Bitcoin addresses currently are in profit. This means that the address holders bought their Bitcoin for less than the current Bitcoin market value. Bitcoin has not touched its current price from the past two years and if the BTC price touches its all-time high around $20,000 in the next 60 days then all Bitcoin addresses will be in excellent profit.
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Bitcoin’s price has been increasing as governments around the world are using stimulus packages to fight the impacts of COVID-19. This has pushed investors to flee towards safe haven assets such as Bitcoin, in a search to hedge against inflation. Also, a growing number of institutional investors like MicroStrategy have begun to use Bitcoin as a treasury asset, further adding buy pressure on the asset.
BTC/USD Weekly Price: TradingView
At the time of writing this, the Bitcoin price is trading at $15,523.10 on several major exchanges. The digital asset hasn’t been trading above this level since January 2018 and appears to be facing very little resistance on its way to $20,000, with some financial models predicting Bitcoin will reach $100,000 by 2021.
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
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