• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin Resilience and Market Dynamics

user avatar

by Giorgi Kostiuk

2 years ago


Despite facing volatile fluctuations akin to those experienced in 2017, Bitcoin remains steadfast. More than 90% of the cryptocurrency's circulating supply remains profitable, showcasing resilience amidst market turbulence. Analysis of onchain data reveals a narrative of endurance and speculation. This year, Bitcoin appears to be replaying the drama of its 2017 journey. The digital asset's rollercoaster ride in 2024 mirrors the unpredictability of Breton weather, with dramatic price swings highlighting its speculative nature. However, enthusiasts stand unwavering, holding their positions with the tenacity of seasoned traders. This steadfast support remains unshaken by external factors, indicating a strong market foundation impervious to regulatory changes or macroeconomic shifts. Recent data from Glassnode brings a glimmer of hope to Bitcoin holders as over 90% of the supply remains profitable despite recent market volatilities. The majority of circulating bitcoins were acquired below current market prices, reflecting a robust market structure capable of weathering cyclical shocks. Trends indicate a complex interplay between price fluctuations and entity profitability, with entities maintaining positions to reinforce market support and potentially mitigate significant declines. The consolidation of prices at crucial levels and sustained profitability hint at a newfound stability in the Bitcoin market, despite its ever-changing nature. While Bitcoin continues to offer excitement, holders seem to have mastered the art of remaining resilient.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

XRP Price Analysis Highlights Key Resistance Level

chest

A market analyst identifies a crucial resistance level for XRP that could determine its next price movement.

user avatarLuis Flores

Binance Addresses Allegations Amidst Major Crypto Liquidation

chest

Binance co-CEO Richard Teng addresses allegations regarding the exchange's involvement in the significant liquidation wave in crypto markets on October 10, emphasizing that external factors were the primary cause.

user avatarArif Mukhtar

Ethereum Whales Continue Accumulation Amid Price Decline

chest

Ethereum whales are accumulating ETH despite price decline, indicating a bullish outlook.

user avatarMaria Gutierrez

XRP Poised for Major Bullish Structure Shift

chest

Crypto analyst ChartNerd suggests that XRP is on the verge of a significant bullish shift, contingent on maintaining its price above $1.

user avatarDavid Robinson

Howland Capital Management Increases Stake in Apple

chest

Howland Capital Management LLC has increased its stake in Apple stock by 58%, purchasing 29,015 shares and raising total holdings to 527,531 shares, valued at approximately $145 million.

user avatarAndrew Smith

Apple Stock Approaches Technical Buy Point

chest

Apple stock is nearing a breakout pattern with a technical buy point identified at 288.62.

user avatarJacob Williams

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.