Bitcoin Investors Remain ‘Relatively Profitable’ Despite Pause in Bull Market

More of the current short-term bitcoin traders are trading at a small loss, however, the market is healthy to the previous bull cycles as data suggests.
BTC Bitcoin, trading at $57,450, down $56,702 on its tickers, is 22% lower than its all-time high of $73,835 set today on March 14. According to analysts, following the recent bearish price trends, investors who invested in bitcoins are relatively profitable for average persons.
As more fully explored by market intelligence firm Glassnode with the help of Bitcoin investor profitability data, one must conclude that the FUD remains at fairly shallow drawdown in comparison with historical bull cycles, and overall the aggregate investor still seems to be in quite good and robust financial conditions.
By division between the total unrealized profits as well as unrealized losses, the Glassnode analysts pointed out that profits are “still 6x greater than losses. ” It has stayed above the present status in approximately 20% of trading days, which provides solace to the owners of the average Bitcoin.
“While it is true that the current BTC investors hold a relatively small unrealized loss number on the average compared to previous cycles, this is a relatively favorable position.”

Moreover, the emerging picture of a bull market has slowed down lately. The current market pressure of staying underwater appears to be borne mainly by short-term holders those who held it for less than 155 days.

TO READ FULL ARTICLE: CLICK HERE