Wednesday, June 12, 2024

Why Bitcoin holders’ suffering could not yet be over.

Like every stock and crypto, Bitcoin prices have taken a beating and at their lowest since November 2021. Past trends information indicates that long-term holders could face a lot more pain for the near future. SOPR (spent output to profit ratio) is an indicator which indicates whether BTC can be sold for a profit. And every holder is selling his holdings a t a lost.

The SOPR metric works thus – the transaction history of every single coin sold on the blockchain is examined. This indicates the price it sold at last. If the selling price previously was less than the currency’s latest value, then it is a profit. If the past value was higher than the latest value, then it is a loss.

Also, if the SOPR value is more than one, this indicates that the Bitcoin market on the whole is selling at profit. Any value less than one means that investors are dealing with losses. Long term holders of BTC are a group who have kept their investment for more than 155 days. It looks like the currency has gone up and down in value through the pandemic and other times.

Since the SOPR value is below one again, it looks like long term holders are dealing with losses. At present, BTC prices are in the $21400 range – up just a bit over 10% in the last week. Analysts, market watches and investors are taking a watch and watch attitude

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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