Bitcoin (BTC) dwindled below the $20,000 mark Wednesday but despite the losses; quite a significant number of shareholders have significant gains to boot.
- Around 47% of BTC holders earned profits, while 52% incurred losses
- Bitcoin traded below the $20,000 Wednesday
As they say, there is no way you can lose with the king of crypto.
As of September 7, roughly 47% of BTC holders have registered gains at the current price while 52% claimed profit loss.
BTC holders who have amassed gains are dubbed as significant especially because BTC has retraced by roughly 59.98% this year. In comparison, Bitcoin was trading by 71% from the ATH value at $69,000 late last year.
Bitcoin Enjoys Gains Despite Market Pressure
Evidently, BTC lose traction middle of this week and dipped below the $20,000 mark as it traded by $19,264, as per 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 validate 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, when compared to traditional investments, crypto assets stood out to be a more valuable and long-term investment. To support that claim, on September 6 BTC was able to take account of 549.37% ROI when pitted with stocks in roughly five years.
BTC Bulls Unfazed By Current Market Negativity
More so, BTC’s investment propensity in the short-term has also been validated in 2022 with the crypto winter and high inflation rates brought about by Fed Reserve policies.
BTC didn’t quire fare well in the market in Q2 of 2022 and has registered disastrous quality returns with losses amounting to over 56%.
With the most recent price action, losses would likely increase in the next couple of days. Moreover, the entire crypto space is expecting further retracement when Bitcoin successfully breaches 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 stay patient and go along 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