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Data on the series shows that the veterans of the Bitcoin market get 89 % less profits compared to May PEK, although the prices are similar now.
Bitcoin achieved profit for 1y+ relatively low hands now
In new mail In X, Glassnode spoke on the size of the series about the last direction in the profit that is scattered by the seasoned hands on the Bitcoin network. The “certain profit” indicates an indicator, as its name suggests, the amount of profit that BTC investors realize by selling them.
The scale works by passing through the date of transferring each currency that is dealt with or “sold” on the series to find out the price that was transferred before that. If the previous sale value is lower than the current price of any symbol, then selling the special code contributes to achieving profit.
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The amount of profit achieved in the sale is naturally equal to the difference between prices. The achieved profit summarizes this value for all the symbols that are transferred to find the total of the network as a whole.
In the context of the current topic, the profit achieved for the rule of the entire users is not important, but it is just a specific part of it: 1+ years holders. These are the investors who have held their coins more than a year ago, without engaging in a deal until once.
Statistically, the longer the investor is over his symbols, the less the probability of selling them in the future. As such, this part of the user database with the time to keep it important will include the hands of the stable diamonds for the market.
Now, here is the graph that Glassnode shares, which shows the trend in Bitcoin the profit for these Hodlers during the past few months:
As shown in the graph above, Bitcoin realized the profit for investors for 1+ years noticing a significant increase in late May. This sharp boom came to make profits from these experienced hands, as BTC rose to $ 110,000 after it fell at all (ATH).
Soon after the sale of this regiment, BTC started decreasing. During the past day, though, the original appears to have finally pushed this landfill, as it returned again over the 109,000 dollar sign.
This time, however, there was no major reaction from the hands of diamonds. Currently, the simple moving average 24 -hour (SMA) is sitting from the earnings of the achieved group of $ 13.6 million, a 89 % decrease compared to the peak of $ 126 million from last month.
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It is possible that the veterans in the market can think that there is a lot to come in the latest Bitcoin gatherings, so they choose to be strong.
BTC price
At the time of this report, Bitcoin floats around $ 109100, an increase of more than 2 % in the past seven days.
Distinctive image from Dall-I, Glassnode.com, Chart from TradingView.com
