Holding Bitcoin is profitable 99.92% of all days.
Bitcoiners have maintained a profitable portfolio for 99.92% of the days, with just six days of investing in Bitcoin (BTC) since its inception 14 years ago, on January 3, 2009.
Bitcoin recently hit an all-time high of $73,600 in mid-March, confirming that BTC holders at all price points are appreciating their investments.
Since then, Bitcoin has continued to hover in the $68,000-$70,000 range, according to data from Cointelegraph Markets Pro and TradingView.
Due to price fluctuations caused by market volatility, only a handful of Bitcoin traders are not profitable. According to crypto financial services firm Blockchain.com, bitcoin purchased between March 9-13 and March 25-29 was a loss.
In other words, 0.16% or six days of the last 3,732 trading days were not profitable investments.
By extension, the price chart reinforces the strategic value of holding Bitcoin during bear markets. CoinMarketCap estimates that 86.28% of Bitcoin wallets hold up to $1,000, 13.03% hold between $1,000 and $10,000, and 0.69% hold $100,000 in Bitcoin.
Additionally, Bitcoin's consistent returns from bear markets and price maintenance help the mining community thrive, contribute to the hash rate, and inadvertently increase the security of the Bitcoin network.
As the Bitcoin Halving event approaches, institutions and private investors are hoarding BTC in anticipation of a price increase.
The fourth halving of bitcoin in 2018 It is expected to launch on April 20, 2024 at an expected block high of 840,000.
Related: Memecoin craze is breaking Bitcoin's half-cycle.
The mining community is developing a game plan to remain profitable despite the halving of rewards to 3.125 BTC.
Canadian bitcoin mining company BitFarms has pledged nearly $240 million to improve its mining operations.
Speaking to Cointelegraph, BitFarms Chief Financial Officer Jeffrey Lucas gave the rationale behind the ongoing fleet reshuffle:
“Transformational fleet upgrade will halve Bitfarms scale and profitability in Bitcoin. This game changer will triple our hash speed to 21 EH/s, increase our target operating capacity by 83% to 440 megawatts (MW) and increase flight efficiency by 40% to 21 W/TH It improves.
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