Hello traders.
Currently 79% of all #Bitcoin supply is in a state of profit.
It has been steeply increasing since its 45% low in March after Black Thursday.
Historically, levels of 90% and higher have clearly marked pronounced $BTC bull markets.
--Is this a bad sign when everyone makes a profit?
Can such a dimension of "earned" investors be a signal that the market is overvalued? It is certain that almost 80% of "profitable bitcoins" show that there is one predefined sentiment on the market.
Glassnode suggests that when 95 percent or more of all holders are "green", it usually serves as a reliable indicator of the peak in which the market is located. At the critical point of cryptocurrency madness in December 2017, it reached virtually 100 percent.
It also works the other way around. Market bottoms often come to light when the rate falls below 50 percent. This scenario took place during the Black Thursday on March 12 and the great surrender in December 2018.
Bulls throw a glove The market wants to remain "in profit"?
The growing profitability of the leading digital currency is not the only sign that bulls may be willing to organize the next big rally.
It is worth recalling that nearly 60 percent of Bitcoin's total supply has not been moved for over 12 months. Last time, when this happened, the bull cycle was born in its infancy.
Bulls familiar with the stock-to-flow (S2F) model may also feel good in the company of the "red dot" that has recently appeared in the model. It is to indicate the beginning of the next, parabolic bull rally.
Good luck
Currently 79% of all #Bitcoin supply is in a state of profit.
It has been steeply increasing since its 45% low in March after Black Thursday.
Historically, levels of 90% and higher have clearly marked pronounced $BTC bull markets.
--Is this a bad sign when everyone makes a profit?
Can such a dimension of "earned" investors be a signal that the market is overvalued? It is certain that almost 80% of "profitable bitcoins" show that there is one predefined sentiment on the market.
Glassnode suggests that when 95 percent or more of all holders are "green", it usually serves as a reliable indicator of the peak in which the market is located. At the critical point of cryptocurrency madness in December 2017, it reached virtually 100 percent.
It also works the other way around. Market bottoms often come to light when the rate falls below 50 percent. This scenario took place during the Black Thursday on March 12 and the great surrender in December 2018.
Bulls throw a glove The market wants to remain "in profit"?
The growing profitability of the leading digital currency is not the only sign that bulls may be willing to organize the next big rally.
It is worth recalling that nearly 60 percent of Bitcoin's total supply has not been moved for over 12 months. Last time, when this happened, the bull cycle was born in its infancy.
Bulls familiar with the stock-to-flow (S2F) model may also feel good in the company of the "red dot" that has recently appeared in the model. It is to indicate the beginning of the next, parabolic bull rally.
Good luck
Comment:
Bitcoin above $ 10,250 100% bullish
