Bitcoin has only been a bad buy on 60 out of its 3,840 days of existence

www.chepicap.com 2019-07-09 22:00
Reading time: ~2 m

The number one cryptocurrency has only been a bad investment on 60 days, since BTC was created 3,840 days ago by the infamous Satoshi Nakamoto on January 3, 2009.

According to a report by research group LongHash, Bitcoin has only been a bad buy on 60 out of its 3,840 days of existence.

While it is widely accepted that the world's number one crypto coin frequently shoots up, only to be followed by a reversed move and comes crashing down just as fast, the longhash report shows that the reality of it all is quite different.

In fact, Bitcoin has really only been volatile in one direction over the long term.

The report further points out that crypto investors who decided to buy BTC one day and hold it until now made a profit 98.4% of the time, and if you only take a look at the last 5 years, Bitcoin investors would have still made a profit on 96.7% of purchase days.

As of July 6, 2019, Bitcoin has only been a bad buy on 60 out of its 3,837 days of existence. People who decided to buy Bitcoin one day and hold it until this past Saturday made a profit 98.4% of the time. https://t.co/ispm99PIRT

— LongHash (@longhashdata) July 9, 2019

48 out of the 60 'bad buy' days took place during the late 2017/early 2018 crypto asset bubble. So, for those who bought Bitcoin in the $15,000 to $20,000 range back in December 2017, it isn't a real comfort to know that there were only 60 bad buy days in total.

However, those who bought at the top of a bubble, most likely, sold shortly after the bubble popped, as weak hands tend to do.

Those who bought Bitcoin at its all-time high and still decided to take on the 2018 cryptowinter and HODL on, those are still down 36% on their purchase.

But with each day passing, Bitcoin is slowly (and sometimes rapidly) creeping closer to that long-awaited moment where it might smash that all-time-high out of the ballpark.