Bitcoin has consistently exceeded expectations as a dominant player in the cryptocurrency market. With a market capitalization of $737,493,111,078, it remains the most valuable digital currency in the industry, surpassing many alternative coins in the ecosystem.
According to data from IntoTheBlock (ITB), up to 83% of Bitcoin addresses are currently “in the money,” leaving only about 14.98% with losses and 1.35% at breakeven points. In actual numbers, ITB data links money addresses to 42.04 million, while those out of the money are at 7.53 million, and the breakeven category stands at 679,660.
When compared to Ethereum, Bitcoin’s leadership prowess becomes even more evident. Despite being a cheaper alternative with greater potential for price appreciation, only 74.69% of Ethereum addresses, or 77.97 million addresses, are currently profitable. A total of 24.76 million addresses, or 23.72%, are experiencing losses, while breakeven addresses make up 1.66 million, or 1.59% of the total.
In comparison to other alternative coins like Cardano (ADA) and Dogecoin (DOGE), the differences are significantly greater. The best is yet to come for Bitcoin (BTC), and here’s why.
The growth Bitcoin has achieved, with a 128% increase year-to-date, and the clear rise in its key growth indicators, is reassuring, especially for long-term investors. The potential approval of a Bitcoin Exchange-Traded Fund (ETF) by the U.S. Securities and Exchange Commission is seen as a game-changer that could tip the scales favorably.
Many analysts believe that the final approval of a Bitcoin ETF could have a positive impact. With an expected infusion of $250 billion in cash through various applications based on a conservative estimate of its assets under management (AUM), prominent analyst Samson Mow predicts that the target price could reach one million dollars in the near future.
Investing in Bitcoin is expected to be one of the biggest winners in the market.
Disclaimer: The information provided is not financial advice. Chinwa.tech does not take any responsibility for investments made based on the information provided in this article. We recommend consulting a qualified specialist or financial advisor before making any investment decisions.