The most famous currency in the crypto world does not leave one to enter another. After losing more than 50% of its value during this year, new problems loom over this cryptocurrency that came to treasure so much value.
We have written a lot here about bitcoin. The currency The most famous crypto company in the world and the most valued on the stock market. Since October 2021 his journey has been nothing more than a descent into hell.
If we remember, in October 2021 bitcoin was worth more than $60,000. Today, November 23, 2022, bitcoin is just over $16,000. As you can see, this is a drop of more than 60 percent. And this is a lot of money.
Most of the addresses that own bitcoin, the cryptocurrency largest by market capitalization now they are losing moneysomething that happens for the first time since the collapse caused by the coronavirus in March 2020.
Just over 51% (24.56 million addresses out of a total of 47.85 million) are below the purchase price on their investmentsaccording to data provided by the blockchain analytics companyIntoTheBlock.
The future of cryptocurrency is up in the air
About 45% have money. That is, they are driving unrealized gains, while the rest remain flat. For those who don’t know, out-of-money addresses are defined as those that purchased coins at an average price above today’s market price: $16,000.
According to analysts at IntoTheBlock, the bearish momentum seems overdone. Looking back, past bear markets have ended most directions. in an out-of-money state.
The percentage of out-of-money addresses remained at 55% in January 2019. During that same time bitcoin registered a minimum around 3,200 dollars and three months later began a bullish rally that reached impressive numbers.
The percentage of out-of-money addresses rose to 62% during the bitcoin bear market crashes of 2015. However, past data is not a guarantee of future results and the fallout from the recent FTX crash could leave further repercussions in the market.