In the past 20 days, around three million Bitcoins (BTC) held by investors have become profitable again, according to crypto researcher Axel Adler. While this is a positive sign for Bitcoin bulls, Adler believes that the market is not yet at a level that would cause anxiety among investors. Once the number of Bitcoins in profit exceeds 19 million, it will be a stress test for asset managers and determine how investors who have been waiting for six months manage their anxiety. The current circulating supply of Bitcoin is 19.76 million BTC. Adler has previously indicated that Bitcoin needs to reach $69,500 to trigger the next phase of fear of missing out (FOMO). Meanwhile, Bitcoin has not performed as expected in October, dropping from $64,100 to $61,800, and currently trading down by almost 2%.
- Content Editor ( u.today )
- 2024-10-01
3,000,000 Bitcoin (BTC) Back to Profit, But Most Interesting Yet to Come, Analyst Says