Glassnode: on 97% all Bitcoin addresses are stored "profitable" BTC

According to the analytical company Glassnode, About 97% All Bitcoin addresses contain “profitable” BTC, Since the price of the first cryptocurrency in recent months continues.

According to the data, published Glassnode, Most of the BTC circulation was Bought at a lower price, than now. The price of bitcoin is growing for the past three months - yesterday it was a hundredth day in a row, when the BTC course remained above $10 000. 5 On November, Bitcoin exceeded $15 000 for the first time since the beginning 2018 years and now trading in $15 519.

BTC price increased to that, that the vast majority of existing addresses (97%), Contain bitcoins, the cost of which has increased from that moment, how they were transferred to a wallet. This indicator has reached the maximum for 2020 year. At the end of July near 93% All Bitcoin addresses contained “profitable” BTC, while 20 July such addresses were no more 72%.

When 95% or more than all BTC owners make a profit, This usually serves as a reliable market peak indicator. At a turning point in the cryptocurrency rally in December 2017 This indicator has almost reached 100%. And vice versa, when the indicator falls below 50%, counts, that the market has reached the bottom. This is what happened during the Black Thursday 12 Martha and falling markets in December 2018 of the year.

On the night on 6 November Bitcoin's course came close to $16 000, Updating the historical record in pairs with the Russian ruble. This week the number of bitcoin wallets, storing more 1 BTC, also reached a new historical maximum.