31.07.202008:17 Forex Analysis & Reviews: Who hasn't made profit on Bitcoin yet?

There are only 7% of all Bitcoins currently in circulation that were purchased more than today's figures. TThis is evidenced by data from the Glassnode service. Accordingly, 9 out of 10 investors have already earned on the first cryptocurrency. But experts are sure that it is too early to fix the profit.

What the statistics say

The curve of the address chart with profitable Bitcoins has not yet risen above the 90% indicator this year. Moreover, in March, the number of investors with profits in BTC was less than half of the total number. The last time this indicator was at 93-94% was in July-August 2019.

Nine weeks ago, the same Glassnode reported on the excessive passivity of the holders of the first cryptocurrency. At that time, according to this analytical service, about 60% of the bitcoins in circulation did not move at all during the year. And even then, experts drew attention to the fact that the statistics repeat the situation in 2016, when the Bitcoin bull market began after stagnation.

What the experts say

Many analysts believe that the peak has not yet been reached. In particular, the media quoted a representative of the Amsterdam Stock Exchange, who predicts growth to $ 15,000 per bitcoin. However, with the condition that for such a jump, the cryptocurrency must overcome the "resistance zone" at around $ 11,200-11,700.

This assumption is bolder than the forecasts made by individual traders at the beginning of this week. Their maximum expectations were around the $14,000 mark.

Moreover, American analysts do not rule out that many investors will want to take profits, but this does not mean that the price of Bitcoin will stop rising. Today, you can already hear forecasts that we will see both $ 20,000 and $ 50,000 by the end of the year, and the most daring experts have already started talking about six-digit values.

However, there are also experts who point out that in addition to the upper "psychological barrier" that the cryptocurrency must overcome for further growth, there is also a lower "psychological barrier". They claim that if the price declines to $10,300, Bitcoin will start a prolonged decline.