Almost half of Bitcoin holders are still enjoying gains despite the bearish misery
Bitcoin (BTC) fell below the $20,000 mark on Wednesday, but despite the losses; a fairly significant number of shareholders have significant gains to boot.
- Around 47% of BTC owners made a profit, while 52% suffered a loss
- Bitcoin traded below $20,000 on Wednesday
As they say, there is no way you can lose with the king of crypto.
As of September 7, approximately 47% of BTC owners have recorded gains at the current price, while 52% claimed profit losses.
BTC owners who have accumulated gains are called significant, especially because BTC has declined by about 59.98% this year. In comparison, Bitcoin traded up 71% from its ATH of $69,000 late last year.
Bitcoin Enjoys Gains Despite Market Pressure
Apparently, BTC lost traction in the middle of this week and fell below the $20,000 mark when it traded at $19,264, according to the current CoinMarketCap data.
Most of the BTC holders who profited are those who invested in the early years of Bitcoin or cryptocurrencies in general. It seems to confirm that BTC is a solid long-term crypto investment because of how it was able to stay mostly in the green and has been resilient and reliable for many years.
In fact, compared to traditional investments, crypto assets stood out to be a more valuable and long-term investment. To support that claim, as of September 6, BTC could account for a 549.37% ROI when loaded with shares over about five years.
BTC Bulls Unfazed by Current Market Negativity
More so, BTC’s short-term investment propensity has also been validated in 2022 with the crypto winter and high inflation rates caused by Fed Reserve policies.
BTC did not fare well in the market in Q2 2022 and has recorded disastrous quality returns with losses of over 56%.
With the latest price action, losses are likely to increase over the next couple of days. Moreover, the entire crypto space expects further retracement when Bitcoin successfully breaks the $21,000 mark.
Monitoring how BTC will fare in today’s market can be exciting. Michaël van de Poppe, a crypto expert, states that the crypto market is poised to skyrocket. But until then, other market observers are patient and going with the flow.
BTC total market cap at $400 billion on the daily chart | Source: TradingView.com Featured image from Jeffrey Hancock/Medium, chart from TradingView.com
