Bitcoin Has Been Profitable Nearly 90% Of Trading History, Data Reveals.
22 Mar 2023, 08:00
Bitcoin Has Been Profitable Nearly 90% Of Trading History, Data Reveals
Up over 40% year to date, bitcoin is arguably 2023’s best-performing asset. And according to new data, the bellwether cryptocurrency has been profitable for its holders nearly 89% of the time since the beginning of its trading.
Buying BTC Has Been Profitable 89% Of The TimeBitcoin has, as some pundits expected, thus far been a major beneficiary of the turmoil in the traditional finance world. The ultra-scarce digital asset has displayed an impressive performance in recent weeks while major bank stocks have continued to slump due to the failure of Silicon Valley Bank and Signature Bank and the emergency deal of UBS and Credit Suisse.
Specifically, bitcoin has been profitable for 88.5%, or 4,065 of its total trading history, which amounts to 4,593 days. This means only 531 or 11.56% of days have been unprofitable for long-term holders, according to data pulled from the cryptocurrency trading platform Blockchain.com. The unprofitable days are between December 28, 2020, and June 10, 2022, a time when BTC was valued in the $26,200 and $28,300 range.