investments in BTC were profitable 98% of the days since its inception

Good news for “hodler”: Bitcoin has been a profitable investment 98.2% of the days since its inception. Meanwhile, BTC entered a “hidden phase” of a “bullish” market, according to another study.

Based on the data of Holdcalc.com, if we count from January 4, 2009 (3,830 days ago) to the present day, then 3,761 days were beneficial to invest in Bitcoin. Thus, only 69 unprofitable days remain, including almost all days of December 2017, at the peak of the historical growth of BTC to $ 20,000, as well as almost the whole of January 2018.

However, this study is hardly worth taking seriously. The number of “profitable” days walks along with the current price, and in the case of continued correction, the ratio will become much less impressive.

In parallel with the statistics holdcalc appeared analysis of the market
cryptocurrency, which suggests that bitcoin has entered the so-called “hidden phase” of the resumed “bullish” rally. The study states that the largest cryptocurrency has crossed its 50-week and 50-day moving averages and analyzes the realized cost of bitcoin – an indicator that was first proposed by the Coin Metrics researcher.

Realized value, as emphasized in the study, is a weighted market capitalization of unspent exits for BTC, that is, a measure of the value of all coins in circulation at the price at which they were last transferred. In addition, other network data, such as hashrate and bitcoin mining complexity, the number of active addresses of wallets and transactions per day, either exceed or are close to their record highs.

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To prove that the coin is now in a “hidden phase” of a “bullish” market, analysts provide a chart showing the logarithmic rise in Bitcoin prices and public interest in it – comparing the BTC: USD ratio with the Google Trends results for the “Bitcoin” query.

The study argues that the public as a whole has failed to assess the current price increase, given that today “the number of requests to Google about Bitcoin when its price is above $ 10,000 is about the same as when it cost $ 1,000 in 2013.” However, due to wide media coverage in recent years, Bitcoin has already ceased to be a novelty, and now it is difficult to meet a person who has never heard of cryptocurrency.

At the moment, the price of Bitcoin hovers around $ 10,800, having lost more than 6% in the last 24 hours.