Bitcoin: Bitcoin Profitable Days
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Indicator Overview
Number of days in Bitcoin's traded history where holding Bitcoin has been profitable relative to today's price.
This chart highlights the aggressive growth of Bitcoin's adoption curve over time, which is reflected in its price. Because supply is limited, as demand grows price moves up.
For investors, it also demonstrates the importance of understanding the market cycles of Bitcoin to avoid buying market cycle tops. The drawdowns from cycle tops can last a long time, around 2-3 years in previous cycles.
Bitcoin Price Prediction Using This Tool
This indicator demonstrates how Bitcoin price has accelerated over its lifetime as it becomes adopted by more and more people around the world. For people trying to understand where the price of Bitcoin may go in the future and try and predict the price of Bitcoin, it pays to understand whether adoption and interest is likely to increase further over time.
This tool shows how people who have simply held Bitcoin on a long enough time horizon have been rewarded by Bitcoins adoption over time.
Created By
@Rhythmtrader
Date Created
August 2019
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