Bitcoin has experienced a range of highs, and lows. Bitcoin [BTC] The market was heading towards its record high of $73,750 when it experienced a small correction. Bitcoin, after a drop of 3.71 % per day, was at $66,948 as of press time. The King coin has fallen over 9% from its previous peak. Most BTC owners were still making money despite this decline.
IntoTheBlock reports that nearly all BTC investors are profiting at present. It suggests that there is low resistance on the chain, which results in positive sentiment. Bitcoin temporarily recovered its $70K level before it dropped. Only 2% are Bitcoin losers, and the remaining 5% are either neither profiting nor losing any money.
The people who bought BTC in the range of $69,528 to $72,500 are those at a losing position. But IntoTheBlock indicates that the assets’ current price was barely a barrier to their on-chain movement. Profitable investors are those who purchased the King Coin at a lower price.
BTC can still regain its previous high despite its recent setback. Bitcoin will need to break through the resistance to reach its all-time high.
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Bitcoin August
Although the market as a whole is hoping for a strong month of August, Changelly The optimism is high. According to data from the site, BTC could reach a peak of $83,289 – a new record. BTC’s average trading value will stay at $77,025, a price that is significantly higher than Bitcoin’s peak. BTC investors would see a higher profit margin with this boost.
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Source: watcher.guru