Leading Bitcoin analyst expects BTC profitability to surge in near future
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PlanB explained that red dots will be on the chart when 100% of all Bitcoin becomes profitable. Red here always follows the current orange ones. PlanB does not expect the profitability to drop to 60% now since first this metric must hit the “red” level of profitability. Currently, the analyst added, only those who bought Bitcoin at the 2021 price peak are in loss and everybody else holding BTC is in profit now.
According to Santiment, however, the number of wallets holding Bitcoin continue to decline. This is happening despite the fact that it has been less than four weeks since the SEC approved spot-based Bitcoin ETFs. This could be happening because of FUD, Santiment believes.Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017.
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