Nearly 50% Of All Bitcoin Holders in Loss, As It Has Proven To Be An Indicator Of BTC Bottom Since 2011

The number of Bitcoin holders in loss approaches almost 50%.

2022 has been a tough year for many cryptocurrency investors, as the prices of all digital currencies have plunged heavily. From political to economic events, cryptocurrency assets were negatively affected, and to make matters worse, Terra suffered a devastating blow that wiped out billions of dollars from the crypto market.

Bitcoin (BTC), the world’s largest market capitalization cryptocurrency, was also on the list of digital currencies affected by these events. Since the beginning of the year, Bitcoin is down 58.8% on Year-to-Date (YTD) basis.

According to data from Coingecko, BTC is trading around $19,062, currently down 72.4% from its all-time high of $69,044. The massive crash of Bitcoin’s price has seen investors record huge losses in the asset class.

Cryptocurrency data analytics platform IntoTheBlock indicates the number of Bitcoin investors currently in profit, loss, or breakeven. At the current Bitcoin price, at least 48% of BTC holders are at a loss. On the other hand, about 47% of BTC investors are in profit at the current Bitcoin price of $19,062, while 4% are currently at break even. The data also indicated that 64% of holders held BTC for more than a year. 31% hold BTC for between one to twelve months and only 5% hold BTC for less than a month.

Popular Twitter cryptocurrency analyst Plan B recently commented on the number of Bitcoins trading at a loss. According to Plan B, 50% of all 19M Bitcoins are at a loss. But the interesting point is that it also indicates the bottom. Bitcoin was at the bottom in 2011, 2015, and 2019 when 50% of holders were underwater.

~50% of all ~19M #bitcoin is in loss. Similar to Jan 2019 bottom and Aug 2015 and Oct 2011. pic.twitter.com/8quGx4tdcf

— PlanB (@100trillionUSD) October 12, 2022