- Bitcoin has been profitable as an investment 98.2% of the days since it was created
- The digital currency is expected to keep growing in the future
According to data provided by holdcalc.com, Bitcoin (BTC) has been profitable as an investment tool 98.2% of the days since it was created. This makes Bitcoin one of the most profitable assets in history and the numbers could keep improving if Bitcoin surpasses an all-time high.
Buying Bitcoin Was Profitable Over 98% Of The Days
According to data provided by holdcalc, 3671 of 3830 days, was profitable to purchase Bitcoin as an investment. That means that there were just 69 unprofitable days that were registered in December 2017 and January 2018. At that time, Bitcoin reached $20,000 and was traded close to that price for a few weeks.
The study also shows that the most popular digital asset has already crossed both the 50-week and 50-day moving averages, which is very bullish for the future of the virtual currency. In addition to it, on-chain data, including hash rate, active wallet addresses and transactions per day are close to their all-time highs or already surpassing them. In general, when these metrics perform positively, the whole market behaves in a positive trend as well.
At the same time, the study shared a chart in which they show that Bitcoin is in stealth mode before a bull run and that the interest in Google is also growing. However, individuals remain far from searching Bitcoin in Google as during the all-time high registered in December 2017. Indeed, Google shows that people are searching for the virtual currency as much as when it was $1,000 in 2013.
There are some bearish analysts that consider that Bitcoin is going to be dropping down to $9,500 or even lower in the near future. However, Bitcoin remains above $10,000 despite all the negative sentiment around it during the last few days.
At the time of writing this article, Bitcoin is being traded around $10,385 and it has a market capitalization of $184.77 billion, according to CoinMarketCap.