Majority Of Ethereum Investors Maintain Profitability Despite Decline Below $1,700

Originally posted here.
By: Best Owie

Overview

Profitability in digital assets such as Ethereum is important to investors in the space. With the decline following the bull market, a good number of ETH investors have seen the profitability of their holdings decline significantly. It had fallen below 50% when the price of ETH had broken below $1,000 last month. However, with the recovery at the beginning of August, Ethereum had rallied as high as $2,000, and now the majority are back in profit. 56% Of Investors In Profit The price of ETH had been rejected at the $2,000 level, which had seen the price decline once more to the $1,500 territory. However, the digital asset would not last long at this point as it would reclaim $1,700 for a brief period before falling back down below $1,700. But even with the decline, the majority of ETH investors are still seeing green in their portfolios. Related Reading: Crypto Market Returns Plunges Into The Negative, Here’s Why IntoTheBlock shows that there are currently, 56% of all Ethereum investors in profit. This is a stark difference from the numbers that were recorded back in June. At the current price, only 44% of investors are recording a loss, while 4% are in the neutral territory, meaning they had purchased their tokens around the current price.  ETH price falls below $1,600 | Source: ETHUSD on TradingView.com As always, the long-term holders are being rewarded in this regard. The data also shows that 62% of all investors had held their coins for more than 1 year. From this, it is easy to infer that these long-term holders see more profits compared to shorter-term holders. Will Ethereum Price Recover? As the weekend approaches, the price of Ethereum is already beginning to react to the reduced liquidity in the market. The price had taken a sharp decline during trading hours on Friday, which saw it fall below $1,600 once more, but it continues to hold up nicely at this point. Related Reading: What The Negative Bitcoin Funding Rates Say About Investor Outlook Short-term bullishness also holds up quite nicely, with the digital asset still sitting firmly above the 50-day moving average. For now, there is not much concern regarding the decline, as it looks like a quick correction. Buying pressure is also holding up against selling pressure, bringing it to a neutral 50% point. However, the 4-hour chart shows a bearish basis. With six consecutive red closes, it is likely that ETH will test $1,500 before the end of the day. But if bulls were to find support before this point, then a bounce is expected. Featured image from CNBC, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

The Post

Profitability in digital assets such as Ethereum is important to investors in the space. With the decline following the bull market, a good number of ETH investors have seen the profitability of their holdings decline significantly. It had fallen below 50% when the price of ETH had broken below $1,000 last month. However, with the recovery at the beginning of August, Ethereum had rallied as high as $2,000, and now the majority are back in profit.

56% Of Investors In Profit

The price of ETH had been rejected at the $2,000 level, which had seen the price decline once more to the $1,500 territory. However, the digital asset would not last long at this point as it would reclaim $1,700 for a brief period before falling back down below $1,700. But even with the decline, the majority of ETH investors are still seeing green in their portfolios.

IntoTheBlock shows that there are currently, 56% of all Ethereum investors in profit. This is a stark difference from the numbers that were recorded back in June. At the current price, only 44% of investors are recording a loss, while 4% are in the neutral territory, meaning they had purchased their tokens around the current price.

ETH price falls below $1,600 | Source: ETHUSD on TradingView.com

As always, the long-term holders are being rewarded in this regard. The data also shows that 62% of all investors had held their coins for more than 1 year. From this, it is easy to infer that these long-term holders see more profits compared to shorter-term holders.

Will Ethereum Price Recover?

As the weekend approaches, the price of Ethereum is already beginning to react to the reduced liquidity in the market. The price had taken a sharp decline during trading hours on Friday, which saw it fall below $1,600 once more, but it continues to hold up nicely at this point.

Short-term bullishness also holds up quite nicely, with the digital asset still sitting firmly above the 50-day moving average. For now, there is not much concern regarding the decline, as it looks like a quick correction. Buying pressure is also holding up against selling pressure, bringing it to a neutral 50% point.

However, the 4-hour chart shows a bearish basis. With six consecutive red closes, it is likely that ETH will test $1,500 before the end of the day. But if bulls were to find support before this point, then a bounce is expected.

Featured image from CNBC, chart from TradingView.com

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…