At around $12,000, buying Bitcoin has been a profitable activity on 97.6% of all days since April 2013, data confirms.
Bitcoin (BTC) has delivered gains to its holders on almost 98% of all days since 2013, new data confirms.
According to a dedicated social media-based monitoring resource which tracks profitability, buying Bitcoin has made its holder richer on 97.6% of days.
BTC profitability “characteristic of bull runs”
Put another way, as on-chain analytics service Glassnode noted in its The Week On-Chain weekly report on Monday, 97.6% of Bitcoin unspent transaction outputs (UTXOs) are in profit.
This means that only 2.4% of UTXOs were created — as part of a transaction between wallets — when the BTC price was higher than current levels at around $12,000.
“Extended periods at this level and above are characteristic of bull runs as BTC moves toward new all-time highs (at which point the metric reaches 100%),” Glassnode commented.
Bitcoin UTXO profitability chart.