Report: Bitcoin Profitability Is 98 Percent Since Creation

According to the data collected by 99Bitcoins analytics, the first cryptocurrency was profitable in 3752 of 3830 days, that is, in 97.96% of cases (at the time of writing the news).

78 unfavourable days for buying Bitcoin are almost completely attributable to December 2017, when the currency reached its last historical maximum of about $20,000. The counter also began to collect unprofitable days from the end of last month, after the growth of cryptocurrency in June to a level of $14,000 and a consequent depreciation.

Bitcoin probably experiences a “Stealth Phase”. Despite the fact that the price of BTC has tripled since the beginning of 2019, requests for "Bitcoin" at this moment in Google search are five times lower than in December 2017, during the bullish rally. In addition, research conducted by App Annie shows that the number of downloads of cryptocurrency applications show zero growth compared with last year. Although some experts suggest that these events indicate a lack of public interest in bitcoins, anonymous crypto analyst CL claims that many retail investors are not yet sufficiently informed. If his prediction is correct, Bitcoin may return to growth.

Image courtesy of Finance Monthly