According to data provided by cryptocurrency analyst Rhythm Trader, Bitcoin holders are more likely to make a profit than traders who trade Bitcoins continuously.
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The famous cryptocurrency analyst found that 3,617 days in the 3,869 days of bitcoin was profitable, accounting for 98.66% of its history. He added that the only people who lost money in the bitcoin market were those who left during the downturn. On the other hand, those who continue to hold cryptocurrencies despite prejudice pressures have the greatest profit.
Green shows the profitability of buying bitcoin
Do you want to hold Bitcoin?
The discovery was revealed in a discussion about whether Bitcoin is an ideal way to store value assets. Those who support Bitcoin as a value store believe that Bitcoin, like gold, is a safe haven asset. It’s better to store and trade Bitcoin without permission, and it also shows a similar scarcity to gold. Those who oppose this claim believe that the potential price volatility of Bitcoin makes it a bad value asset.
Between these two arguments, some traders see Bitcoin as a pure speculative tool. Their daily job is to make money by using intraday price fluctuations of cryptocurrencies. If these investors are whales, they can push the market in any direction at an exponential rate. If they are ordinary investors, they will only track this preference until it no longer brings them profits.
Speculators either become believers/holders or become completely averse to Bitcoin (they don't want to have anything to do with Bitcoin), which tends to reduce volatility. As value-storage theory becomes more popular, and as macroeconomic prospects bleak, investors are beginning to look for unrelated assets to hedge, and Bitcoin seems likely to attract more speculators into its markets.
The famous cryptocurrency analyst Tony Vays believes that Bitcoin has enough use cases to impress an outsider.
Bitcoin is probably the largest storage of value in world history. Yes, it is very unstable – because its useful time is only about 7 years – but its “non-confiscation” is unparalleled. This is the true value reserve nature of gold because gold is forfeitable and all other assets are even easier.
"Gold" case study
Proponents also believe that the volatility of gold in the early years is a hedge asset. In 1971, after the former US President Richard Nixon switched from the gold standard to the dollar standard, this scarce metal has been in an unstable state for many years.
This comparison puts bitcoin into the category of potential value assets. If this argument is further developed, Bitcoin investors may become long-term holders.
Since people know that holders have already obtained reasonable profits, this argument seems to be developing.