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Being profitable in cryptocurrency has a lot to do with when you buy and when you sell. Research from Intotheblock has outlined what percentage of individuals holding some of the top coins will be in profit at current prices, and it's good news for Bitcoin (BTC) and its forks.
The research shows that, as a whole, addresses that are holding either Bitcoin, Bitcoin Cash (BCH), or Bitcoin SV (BSV) at the start of this week will be in profit. However, some other large coins will see most of their addresses suffering losses, and some pretty substantially.
Best to Be in Bitcoin
BSV addresses, as a whole, are currently the most profitable, with a massive 95% of them being in the black. On the other end of the scale, addresses with Ethereum are feeling the pinch with 86% in the red.
Starting a new week!
Here's an update on the % of holders making or losing money at the current price for the top cryptocurrencies
Addresses at profit$BTC 58%$BCH 85%$BSV 95%$LINK 47%$HT 56%
Addresses at loss$ADA 79%$LTC 81%$ETH 86%$ETC 81%$BAT 79% pic.twitter.com/X1zL47zycX
- intotheblock (@intotheblock) December 2, 2019
Addresses with the three main Bitcoin forks in them are all showing a profit at the current price. Bitcoin sits at plus-minus $7,300, BCH at $213 and BSV at $100.
More than half of all Bitcoin addresses are in profit, meaning that the majority of these addresses bought Bitcoin when it was under its current price. Breaking this down, there will be several wallets that are holding older coins, back when Bitcoin was worth a few hundred or even tens of dollars.
Those Bitcoin buyers who jumped in at the top of the hype cycle, when Bitcoin was tearing off to $20,000, would have likely sold in the dire bear market of 2018 to try and recoup some money back.
For BSV, the youngest of th
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