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Bitcoin owners are definitely smiling at the bank amid the high buying pressure recently seen in the world’s flagship crypto market. The number of Bitcoin holders in profit is record, as data recovered by Glassnode, a crypto analytics firm, has shown.
- Bitcoin $ BTC Percent Addresses in Profit (1d MA) just hit a 2-year high of 98.079%.
- A previous 2-year high of 98.055% was observed earlier today.
READ: Bitcoin beats $ 10,000 in 7 weeks
📈 #Bitcoin $ BTC Percentage addresses in profit (1 day MA) just hit a 2-year high of 98.079%
The previous 2-year high of 98.055% was observed earlier today
View metric: https: //t.co/md3u6SLXi0 pic.twitter.com/nGzSeB9Tav
– glassnode alerts (@glassnodealerts) November 6, 2020
This also shows that the number of losing Bitcoin $ BTC addresses (1d MA) just hit a 2-year low of 619,894,125.
The previous 2-year low of 623,121,208 was also observed today.
📉 #Bitcoin $ BTC Loss addresses (1d MA) just hit the 2-year low of 619,894,125
The previous 2-year low of 623,121,208 was observed earlier today
View metric: https: //t.co/IVvHRHjIhF pic.twitter.com/VvSl7YSSj8
– glassnode alerts (@glassnodealerts) November 6, 2020
READ: 5 main reasons why it’s good to buy Bitcoin
What we know
At 6.23 Nigerian time, Bitcoin was trading at $ 15,517.62 with a 24-hour trading volume of $ 30,751,814,626. The price of BTC has dropped -0.3% in the past 24 hours. It has a circulating supply of 19 million coins and a maximum supply of 21 million coins.
The Chainalysis researchers explained in detail that as the BTC rush continues to rise, the price will certainly be affected. The report said:
“With more people looking to trade BTC, which is getting scarcer following the recent halving, the transfer of bitcoin from the investment to the trading bucket could become a crucial source of liquidity.”
Explore the Nairametrics research website
What does it mean
Nairametrics previously broke the news on how the world’s flagship cryptocurrency continued to gain traction at lightning speed. Renowned financial data media company Bloomberg Intelligence has provided critical insights into why bitcoin could reach a valuation of $ 100,000 in just five years.
“Bitcoin’s foundation is being solidified for further price advancements if its history is any guide. Since initially reaching $ 10,000 in 2017, the benchmark crypto has corrected around 70% and remains in a long period of consolidation around that level. “
READ: Pan-African software company AirSmat raises $ 100,000 in investment
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