Crypto Mining News, Cryptocurrency

Glassnode revealed 83% of BTC states are profitable

A number of bitcoin investors hold their coins for the long-term, suggesting a lucrative in the future ahead.

This is according to the reports of Glassnode which further states that 83% of the addresses are going bullish nowadays.

As for the record, the highest proportion of addresses in profit this year catapulted up to 89% on the first day of June, when the price of bitcoin went beyond $10,400.

This new record shows another 43% increase since Bitcoins lowest of the low records dubbed by many as ‘Black Thursday’.

Comparing the revenue by BTC investors, 2020 shows lower revenue growth.

The latest Glassnode figures may break the drought, as they claim that bitcoin is not overbought as of the moment.

The crypto analytics firm also reported that 60% of all the 18.6 million BTC mined is posed for long-term investment while only 19% or 3.5 million bitcoins is active in trading.

Bitcoin has attempted to go above the $10,000 since the halving on May 11, but traders only sought a $10,000 level for a bullish upswing.

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