Out of 4,593 days of Bitcoin’s existence as a tradable asset, BTC holders experienced 4,065 days of gains, defying the historical narrative of depreciating volatility for cryptocurrencies. As a result, holding Bitcoin (BTC) is profitable in the long run.
Historical Bitcoin price behavior confirms that a hard cap on total supply and unfettered global usability are critical to becoming a store of value. Data from Blockchain.com shows that Bitcoiners enjoyed 88.50% profitable days relative to the current market price at press time.
As shown above, only 531 or 11.56% of the 4,593 days were unprofitable for long-term holders. The unprofitable days are between December 28, 2022 and June 12, 2022, a time when Bitcoin was trading above the range of $26,246.58 and $28,344.5.
This revelation highlights the importance of understanding Bitcoin market cycles and why investors should avoid buying on the highs and selling on the dips. However, some traders prefer to day trade on exchanges for much smaller but consistent profits.
In a recent note, Cointelegraph detailed the different types of cryptocurrency investors and categorized them based on their investment mindset. As mentioned, there are four main mindset categories of crypto exchange holders: maximalists, hodlers, fomoers, and traders. Read on to find out which one you are.
In the Bitcoin ATM ecosystem, manufacturer General Bytes shut down its cloud services after discovering a “security vulnerability” that allowed an attacker to access users’ hot wallets and obtain sensitive information.
On March 17-18th, 2023, GENERAL BYTES experienced a security incident.
We released a statement urging customers to take immediate action to protect their personal information.
We urge all our customers to take immediate action to protect their funds and https://t.co/fajc61lcwR… https://t.co/g5FGqvqZQ7
— GENERAL BYTES (@generalbytes) March 18, 2023
“We have completed multiple security audits since 2021, and none of them identified this vulnerability,” General Byes founder Karel Kyovsky concluded in making the announcement.
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