Bitcoin long-term Holders Profitability Falls To 2018 Lows!
The post Bitcoin long-term Holders Profitability Falls To 2018 Lows! appeared first on Coinpedia Fintech News
According to Glassnode, the fall in profitability in 2022 is similar to what was observed in December 2018. Due to the intense selling pressure, investors who have been holding bitcoin for a long time are being forced to sell at a loss of 42% on average. After purchasing at an average price of $32,000, they are selling at the present low price.
On the other hand, Due to the current market hardships, Bitcoin mining is becoming less profitable than it used to be. According to Glassnode, things started going south for miners when BTC’s price fell below $24.5k. Miners are now spending an average of 8,000 worth of BTC to cover operating costs.
