Bitcoin Holds Profitability for 99.92% of All Days

Bitcoin investors have enjoyed a highly profitable journey, with only six days in its 14-year history proving to be unprofitable. The cryptocurrency recently reached an all-time high of $73,600, benefiting investors across all price points. Despite some price fluctuations, Bitcoin has maintained a price range of around $68,000 to $70,000. However, a small number of Bitcoin holders who purchased between March 9-13 and March 25-29 are currently at a loss. These six unprofitable days make up just 0.16% of the total tradable days. Holding Bitcoin during bear markets has proven to be strategically important, as demonstrated by the price chart. The majority of Bitcoin wallets (86.28%) hold up to $1,000, while 13.03% hold between $1,000 to $10,000, and 0.69% hold $100,000 worth of Bitcoin. Bitcoin’s ability to bounce back from bear markets and maintain its price has also contributed to the thriving mining community and increased the security of the Bitcoin network. With the upcoming Bitcoin Halving event, institutions and private investors are accumulating BTC in anticipation of a price surge. The fourth Bitcoin halving is expected to occur on April 20, 2024. Despite the reduced rewards post-halving, the mining community is strategizing to remain profitable. Canadian Bitcoin mining firm Bitfarms has committed $240 million to upgrade its mining equipment.