Of the 4,593 days of Bitcoin’s existence as a tradable asset, BTC holders experienced 4,065 profitable days – challenging the historical narrative of shrinking volatility in crypto. As a result, holding Bitcoin (BTC) has been provably profitable in the long run.
Bitcoin’s historical price performance confirms that hard limits on total supply and smooth global usage are essential to becoming a store of value. Data from Blockchain.com shows that Bitcoiners enjoy an 88.50% profitable day relative to the current market price at the time of writing.
As shown above, only 531 or 11.56% of the 4,593 days were unfavorable for long-term holders. The unprofitable days are between December 28, 2022 and June 12, 2022, the time when Bitcoin is priced above the range of $26,246.58 and $28,344.5.
These revelations highlight the importance of understanding Bitcoin market cycles and why investors should avoid buying above and selling below the price. However, some traders prefer to make daily trades on crypto exchanges with smaller but consistent profits.
In a recent publication, Cointelegraph describes the different types of crypto investors and categorizes them based on their investment mindset. As mentioned, there are four main categories of mindset of crypto wallet holders: maximalists, hodlers, fomoers and traders. Read more to find out which one.
related: The Crypto Fear and Greed Index reached its highest level since Bitcoin peaked
In the Bitcoin ATM ecosystem, the manufacturer General Bytes shut down its cloud service after discovering a “security vulnerability” that allowed attackers to access users’ hot wallets and obtain sensitive information.
On March 17-18, 2023, GENERAL BYTES experienced a security incident.
We are issuing a statement urging our customers to take immediate action to protect their personal information.
We urge all customers to take immediate action to protect their funds and https://t.co/fajc61lcwR… https://t.co/g5FGqvqZQ7
– PUBLIC BYTES (@public bytes) March 18, 2023
“We have completed several security audits since 2021, and none of them have identified this vulnerability,” General Byes founder Karel Kyovsky concluded when making the announcement.