BTC Addresses Collecting Profits Hits an 11-month High

03/20/2023 17:21 • Metaverse Matters • 160 views

According to reports, data shows that the number of profitable BTC addresses accounted for 71.779% in the past hour (7d MA), hitting an 11-month high.

The number of profitable BTC addresses hit an 11-month high

Analysis based on this information:

The cryptocurrency market has always been volatile, and many investors have found it challenging to identify the right time to buy, sell or hold their virtual assets. However, a data analysis report shows that the number of profitable BTC addresses has reached an eleven-month high, accounting for 71.779% in the past hour (7d MA).

This report may indicate that Bitcoin is becoming more attractive to investors as the market trend is changing in favor of BTC. The increase in the number of profitable addresses signals that investors are collecting their profits by selling their Bitcoins at a favorable price. In turn, this drives the demand for BTC, ultimately increasing its value.

It is worth noting that investors are cautious about the risks associated with trading cryptocurrency due to its high volatility. Consequently, they are always on the lookout for signals that help them to make profitable trading decisions. The data analysis report is one of such indicators that could be helpful in guiding investors’ decisions.

In the past, the number of BTC addresses collecting profits was much lower, especially during the bear market of 2018. Any increase in the number of profitable addresses serves as a promising sign for the BTC market, as it would boost investors’ confidence in the digital asset.

While the report is a motivation for investors to hold onto Bitcoins, it should not be considered as a guarantee of long-term profitability or an immediate signal for investors to get into cryptocurrency trading. Investors should conduct thorough analysis on their own or consult professionals for a more informed investment decision.

To summarize, the recent report indicates that BTC investments are becoming more profitable for existing investors, and could be a motivator for new investors to join the cryptocurrency market. The report shows a positive trend in the BTC market, which is a promising sign for BTC investors. However, investors should also note that the market remains highly volatile, and conduct their due diligence before investing.

Keyword 1: BTC
Keyword 2: profitable addresses
Keyword 3: market trend

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BTC Addresses Collecting Profits Hits an 11-month High

The number of profitable BTC addresses hit an 11-month high

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