9 out of 10 bitcoins are profitable


In an encouraging sign for investors, it was revealed that 9 out of 10 bitcoins (BTC) are currently generating profit.

The profit is at the same level that the digital currency reached in November 2021, when BTC reached an all-time high of $69,000, according to data from Mesmerdata.

This rebound is a sign of the optimism investors have in the bitcoin market for the future. As you can see in the chart below, the income has been increasing since October.

9 Out Of 10 Bitcoins Are Profitable
Bitcoin profit supply from 2015 until now. Source: mesmerdata.

In that month, the supply of bitcoin in profit was at 69%, and now there is an increase of 30%.

What happened in October? The month begins with a BTC price of $28,030 and closes at $32,899, as shown in TradingView.

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9 Out Of 10 Bitcoins Are Profitable
BTC price between October and December. Source: TradingView.

The digital asset surged due to the high probability of approval of the first spot bitcoin exchange-traded funds (ETFs) in the United States.

The bullish ETF catalyst boosted bitcoin from that month to today, when the price was at $44,000very close to the forecast of the financial analysis and investment company, Matrixport, which maintains that BTC will end on December 31 trading around $45,000, as reported by CriptoNoticias.

Currently, VanEck, a company that seeks spot bitcoin ETF, estimates that next year the price of BTC will rise above $48,000, after halving, a mechanism that halves the amount of bitcoin that miners receive as reward for their work.

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