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Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
bitcoin profitable

Only 33 Days And Dwindling Remain Where Bitcoin Wasn’t Profitable

Tony Spilotro by Tony Spilotro
2 years ago
in BTC
Reading Time: 3 mins read
Advertisement

This week, Bitcoin nearly touched $16,000, leaving very few days remaining where buying BTC would have been unprofitable. In fact, the number has now dwindled down to just around a month left, and in no time at all, there could be no days left where buying the cryptocurrency was a bad decision.

Bitcoin Has Been Profitable Over 99% Of History, Only 33 Days Remain Unprofitable

Bitcoin price has now set a higher high over the 2019 peak, and the only remaining high to take out that’s left is the all-time high at $20,000. With the momentum the cryptocurrency currently has, the target could be taken out any day now.

The number of days left where buying BTC turned out to be unprofitable, is dwindling by the day now that the top cryptocurrency touched just under $16,000 this week.

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There are only 33 total days in which you could have bought bitcoin and lost money.

Buying on 99.1% of days has resulted in profit.

This is why we #HODL

— 21Million (@21MillionCo) November 6, 2020

Now, according to data, only 33 days remain where buying BTC was a mistake and turned out to lead to a loss. At over 99% of any other time within Bitcoin’s twelve-year lifetime, buying BTC would have brought at least some positive ROI.

Related Reading | PayPal CEO: Bitcoin Support Will “Fundamentally Bolster” Crypto “Utility”

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This timeframe extends from the end of December, through the first week of January.

bitcoin btcusd btc

Only 33 days remain where Bitcoin price traded higher than it is currently | Source: BTCUSD on TradingView.com

What Happens When The Crypto Bull Market Begins?

Buying BTC at any point in 2020 before yesterday would be been profitable. Bitcoin has also doubled in value since the start of 2020 with more than 100% ROI.

Meanwhile, gold, stocks, and other primary investment assets have performed nowhere near as well. Other cryptocurrencies did even better than Bitcoin, but have learned the hard way recently that none of that matters once the leading cryptocurrency gets started in its bull run.

bitcoin cycle

Bitcoin is following the same path as the last market cycle and could reach $300K at the peak | Source: BTCUSD on TradingView.com

The 100% ROI in 2020, is only the beginning if past market cycles are anything to go by. Projecting the last peak over the current market cycle, Bitcoin is following almost the same exact path and would be projected to reach as high as $325,000.

Related Reading | When Crypto’s Most Reliable Sell Signal Fails, The Bitcoin Bull Run Is On

And while past results aren’t a guarantee of future performance, and never is, Bitcoin’s block reward halving could make it pre-programmed to go parabolic every four years to the date. Supply-based theories put the cryptocurrency well over $100,000 in 2021 based on the asset’s scarce supply, and given the momentum, we’ll soon find out if these valuations models are right.

Featured image from Deposit Photos, Charts from TradingView.com
Tags: bitcoinbtcbtcusdbtcusdcBTCUSDTcryptoxbtxbtusd
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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