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97% of Bitcoin (BTC) on the market have a profit

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According to data from analytics company Glassnode, the percentage of unspent transactions on the bitcoin blockchain that are in a "profitable state" has exceeded 97% and this is an extremely positive sign.

This means that less than 3% of all bitcoins were received when the price of the cryptocurrency was above its current value.

UTXO benefit
Percentage of UTXO in profit

Historically a bullish signal

But this is not all that this figure says, historically, when the profit from UTXOs exceeds the average of 95% we see significant gains.

"Historically, when the percentage of UTXO in earnings exceeds the 95% limit, BTC sees significant gains in a short period of time, usually around 2-3 months, although sometimes shorter."

In 2017 alone, the price of bitcoin stayed above $ 10,000 for so long and led to a bull run in which the cryptocurrency reached $ 20,000.

BTC days above $ 10,000
Number of days with BTC greater than US $ 10,000

If Bitcoin rises to $ 20,000, we can easily see that the local currency btc price will top $ 100,000, especially with the dollar's uptrend for the next few months and years.



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