Placeholder canvas
HomeFinance NewsBitcoin holds steady at $48,000, with 91% of holders in profit.

Bitcoin holds steady at $48,000, with 91% of holders in profit.

Published on

The price of Bitcoin has remained stable at around $48,000, marking an 11% increase from the previous week. Currently, the Bitcoin price stands at $47,846.90, with a slight 0.8% drop in the last 24 hours. This stability has left 91% of BTC holders with unrealized profits, prompting seasoned traders and Look Into Bitcoin founder Philip Swift to advise holding onto their investments.

Despite the slight dip in the price of Bitcoin, the cryptocurrency has reached a market capitalization of approximately $940 billion. However, this figure remains 26% lower than its all-time high of $1.28 trillion during the Fall 2021 bull run. Traders who bought into BTC near the top of the 2021 bull run are now nearing a break-even point, according to CryptoQuant founder and CEO Ki Young Ju.

Looking ahead, one of the key events for Bitcoin traders is the upcoming Bitcoin halving, which is approximately 62 days away. This halving will see the fees paid to Bitcoin miners for validating transactions on the blockchain cut in half, from 6.25 to 3.125 BTC. Trading firms have begun offering guidance on how investors can prepare for the halving, as historical data suggests that it may precede a bull run in the cryptocurrency market. Additionally, Ethereum has experienced a 1.4% drop in its price, currently trading at $2,482.46, as traders anticipate the Dencun upgrade on the mainnet, expected to bring faster transactions and reduced fees.

Source link

Latest articles

Super Micro jumps as AI server manufacturer prepares to join S&P 500.

Super Micro Computer saw a surge in its stock price by 13.5% in after-hours...

Analyst Ivan Feinseth Predicts Nvidia Stock to Reach $820

Nvidia (NASDAQ:NVDA) has been unstoppable in the market, driving an AI-themed rally and consistently...

Three games exiting Xbox Game Pass in early March 2024.

Microsoft has announced that three games will be leaving Xbox Game Pass in early...

‘Rust’ armorer accused of mishandling guns and facing emotional testimony in trial.

The first week of Hannah Gutierrez-Reed’s criminal trial focused on the eyewitness accounts of...

More like this

Super Micro jumps as AI server manufacturer prepares to join S&P 500.

Super Micro Computer saw a surge in its stock price by 13.5% in after-hours...

Analyst Ivan Feinseth Predicts Nvidia Stock to Reach $820

Nvidia (NASDAQ:NVDA) has been unstoppable in the market, driving an AI-themed rally and consistently...

Three games exiting Xbox Game Pass in early March 2024.

Microsoft has announced that three games will be leaving Xbox Game Pass in early...