The recent Bitcoin crash has left many investors wondering if they’re still in the green. Let’s dive into the data to see who’s still making money.
How Many Bitcoin Holders Are Still Profitable?
A cool tool called “Historical In/Out of the Money” tracks the average price Bitcoin holders bought their coins. If the current price is higher than their purchase price, they’re making money. If it’s lower, they’re losing money.
Right now, about 75% of Bitcoin addresses are still in the money. That’s about 39 million addresses! This is a pretty high percentage, but it’s actually lower than it was earlier this year.
What Does This Mean for Bitcoin?
Historically, Bitcoin has seen a dip in price when the number of profitable holders drops. This makes sense because people are more likely to sell when they’re making money.
However, with so many people still in the green, it’s hard to say if this will be the bottom. It’s possible that Bitcoin could drop further before it starts to climb again.
The Bottom Line
The recent crash has shaken up the Bitcoin market, but there are still plenty of people making money. It’s too early to say what will happen next, but it’s definitely worth keeping an eye on the data.
