Bitcoin has been on a tear lately, hitting a new all-time high and making a lot of people very happy.
Almost Everyone is in the Green
Data from Alphractal shows that a whopping 99.9% of Bitcoin addresses are currently in profit. This means that almost everyone who owns Bitcoin is making money. This is a huge milestone for the cryptocurrency and shows that people are really confident in its future.
Could This Be a Sign of Trouble?
While this is great news for Bitcoin holders, it could also be a sign that things are getting a bit too hot. In the past, when everyone was making money on Bitcoin, the market usually experienced a correction (a dip in price) shortly after.
Bitcoin’s Average Profitability is Also Climbing
The average profit that people are making on Bitcoin is also rising, which is another good sign for the cryptocurrency. This means that people are not only holding Bitcoin, but they are also buying more of it, which is pushing the price up.
What’s Next for Bitcoin?
It’s hard to say for sure what will happen next with Bitcoin. It’s possible that we’ll see a correction soon, but it’s also possible that the price will continue to rise. Either way, Bitcoin is definitely in a strong position right now.
