It is already evident that the cryptocurrency sector is growing, but nothing testifies to its unstoppable expansion better than the strong adoption growth of Bitcoin (BTC), which has been profitable for its owners by almost 90% since its inception.
Specifically, Bitcoin has been profitable for 87.66% or 3984 days of its total trading history, which is 4,545 days (about 12 years and five months), as opposed to only 564 days or 12.41% unprofitable days, according to data from Crypto. Blockchain.com trading platform on January 30.
Aggressive Bitcoin adoption curve
In particular, the graph shows the number of days in Bitcoin trading history when it was profitable to hold the Decentralized Finance (DeFi) token relative to today’s price, highlighting the exponential growth of its adoption curve over time, which is also reflected in its price, as its supply is limited. It pays off. The greater the demand the higher the price.
In addition, it “also shows the importance of understanding Bitcoin’s market cycles in order to avoid buying peaks of the market cycle,” as “retreats from cycle peaks can last for a long time, around 2-3 years in previous cycles.”
Meanwhile, the emergence of the cryptocurrency market has resulted in more than 44,000 new Bitcoin millionaires taking advantage of the 2023 bull run to join the cryptocurrency elite club, Coinphony reported Jan. 28.
Bitcoin price analysis
At press time, Bitcoin is slowing its rally and is trading at $23,265, which means it has weakened by 0.75% on the day but is still up 2.32% from the previous seven days, up 40.12% on the monthly chart, with a market cap of 445.99. Billion dollar.
It is also worth noting that the machine learning algorithms are over price forecast Expect bitcoin to likely continue to rise further by the end of next month, as it set the price at $24,342 on February 28, 2023.
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Post-Bitcoin Profitable with 90% Trading History Driven by Wide Adoption debuted on Coinphony.