Login to your account

Username *
Password *
Remember Me

Create an account

Fields marked with an asterisk (*) are required.
Name *
Username *
Password *
Verify password *
Email *
Verify email *
Captcha *
Reload Captcha

Recent data show over 80% of Bitcoin addresses are currently in profit

Written by  Jun 24, 2020

More than 80% of existing Bitcoin addresses are currently in a state of profit, according to Glassnode.

The amount of BTC addresses in the green are up 43% since the so-called ’Black Thursday’, in which the price of bitcoin crashed by nearly 50%.

At the time, data shows only 45% of all BTC addresses were profitable, representing a low in the year. The new data, shared on social media by Huobi’s Ciara Sun, shows a sharp V-shaped recovery in the existing BTC addresses in a state of profit.

83% of #Bitcoin addresses are in a state of #profit - up 43% since the crash in March. @glassnodehttps://t.co/PaN6IId97Dpic.twitter.com/dkDllqSv44

— Ciara Sun (@CiaraHuobi) 23rd June, 2020

A high in 2020 was hit on 1st June, when 89% of addresses were in the green as bitcoin’s price rose above the $10,000 mark. CryptoCompare data shows that, so far this year, bitcoin’s price tested the psychological barrier numerous times, and even though it managed to get to a $10,400 high resistance always saw its price drop soon after.

Advertisement

In June 2019, when the price of bitcoin was at $13,000 after a short-lived rally, 95% of addresses were in a state of profit. Glassnode’s data appears to be bullish, however, as BTC turns bearish when over 95% of addresses are in the green, as it’s a signal it’s overbought.

19% of the bitcoin in circulation, according to Chainalysis, is actively being traded. The remaining BTC is being considered lost in wallets that have not moved their funds in at least five years.

If you are new to the Cryptocurrency world and would like to open an account we recommend Cex.io.

Do you find this article useful? Comment below or follow us on Facebook or Twitter.

Paul Saunders

Crypto tech journalist, Paul specialises in Crypto news having worked and traded in the field for over 5 years and has previous Blockchain admin roles to his credit. His knowledge and experience in Crypto tech is very important to us and his contribution is invaluable.

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

Follow Us

Advertisement

Bitcoin Price

Popular in Bitcoin

Jun 15, 2020

Bitcoin price is recovering well

Bitcoin price closed its weekly candle at roughly $9,325 and dipped to £8900 very briefly.

Jan 24, 2020

What is Bitcoin?

Bitcoin is a cryptocurrency created back in 2009. Marketplaces called “bitcoin exchanges” allow people to buy or sel...

Jun 23, 2020

PayPal and bitcoin to collaborate

The hot news today is from PayPal, the well-known payments company, is getting ready to introduce a cryptocurrency buyin...

May 07, 2020

Bitcoin tries to go above $9,300 but is expected to go down

The Bitcoin price has broken out from a short-term descending resistance line but still has yet to move above its 30th A...

May 14, 2020

Bitcoin transaction fees are rising

Bitcoin is seeing an uptick in transaction fees in the past few weeks, now on similar levels to fees during the summer o...

May 16, 2020

The environmental concerns of Bitcoin mining

Following bitcoins rise two years ago in 2017 to highs of $20k+, the question was asked on whether the leading cryptocur...

May 14, 2020

Recent proof that Bitcoin is better than Gold

The Bitcoin market is moving upwards once again. The cryptocurrency has seen its price rise by more than 150 percent fro...

Jun 17, 2020

More than 8000 Bitcoin ATMs now installed worldwide

There are now 8000 bitcoin ATMs have been installed on a global scale.

May 28, 2020

Bitcoin Price: Falling wedge breakout leaves $9,500 achievable

Bitcoin price spiked on Wednesday following a recent dip from highs above $9,500 to levels slightly above $8,600. ...