Most Of BTC Investors Are In Profit
Citing the analysis of Jins, the in-house crypto analyst at CoinNess.com, in the bull market, investors holding BTC are in a profitable state, which means the current price is more than that of the cost price of most traders. Whether it is a short-term trader or a long-term trader, the gains will be made with a small adjustment in the closing price.
If 80% of investors have already earned, it means the market is in a bull market. Investors who bought BTC in high positions or investors who bought BTC at low prices have not been affected by price adjustments. From the perspective of profit and loss, the BTC market has not met the 2/8 rule. The 2/8 rule states that only 20% of investors in the market will get a return, which is exactly the opposite of the BTC market.
According to Into The Block, a machine learning-enhanced blockchain analytics firm, 79% of all Bitcoin addresses with a positive balance are in profit. While it would make sense for this vast majority of Bitcoin investors to liquidate their positions to lock in gains, CoinMetrics data is suggesting that there are now more HODLers of Bitcoin than ever before.
On the daily chart, the BTC trading volume has been shrinking for two months, marking $16.1 billion, which is less than half of the recent highest volume. From the current BTC breakthrough direction, it is necessary for BTC to stand up $11,000 to clear more signals. From the perspective of the technical indicator Gann Fun, the price change of BTC will not exceed $1,000. What’s more, near the Gann Fun, BTC is about to drive a breakthrough direction around August 28.
Follow CoinNess on Social Media:
* Twitter: https://twitter.com/CoinNessCom
* Facebook: www.facebook.com/CoinNessCom/
* Telegram:https://t.me/coinnessofficial
* CoinNess App: https://bi.city/s/xsZ2n2
Published at Mon, 26 Aug 2019 07:48:19 +0000
Bitcoin Pic Of The Moment
✅ This image from Marco Verch (trendingtopics) is available under Creative Commons 2.0. Please link to the original photo and the license. 📝 License for use outside of the Creative Commons is available by request.
By trendingtopics on 2019-05-08 06:04:29
