If you’ve ever bought Bitcoin, there’s a 97.5% chance you’ve profited

If you’ve ever bought Bitcoin, there’s a 97.5% chance you’ve profited

With Bitcoin’s volatility being heavily discussed in the media, a crypto analyst pointed out that the chance of losing money on a Bitcoin investment was so slim, it could almost be considered an anomaly. He calculated that if you’ve bought Bitcoin on any random day in its history, there was a 97.5 percent chance that you’ve made a profit.

Bitcoin is not as volatile as it’s presented to be

As Bitcoin’s popularity grows, pulling even the least tech-savvy into cryptocurrencies, so does the pressure from mainstream media. Now that cryptocurrencies have grown past a small niche and Bitcoin has become a household name, traditional media outlets have all but started a campaign to slander the new asset class.

Traditional investors and economists have been vocal about Bitcoin’s volatility and unpredictability, saying it was a Ponzi scheme created to empty the pockets of gullible traders.

With all the relentless attacks from both investors and regulators, any data that pops up and illustrates the inaccuracy of claims like this is welcomed and celebrated by the crypto community.

CharlesTheETH, a Twitter crypto analyst and host of The Crypto Entrepreneurs podcast, shared a chart that showed that not only was Bitcoin a great investment, but the chances of losing money on it were incredibly slim.

Data shows investing in Bitcoin is almost a sure win

The chart shared on Twitter showed that there were less than 100 days, out of over 3,900, in Bitcoin’s entire history where buying and holding would have been unprofitable.

The podcaster went on to explain just how slim the chances of losing money on Bitcoin were. In a Sept. 3 tweet, he said that if you’ve bought Bitcoin on “any random day in its history,” there was a 97.5 percent chance that you’ve turned a profit on your investment.

A similar chart popped up earlier in August when Bitcoin began its dramatic consolidation after its short-lived break above the $12,000 mark. Ceteris Paribus, a Twitter profile focused on cryptocurrency analysis, shared a chart from Messari Crypto showing that Bitcoin has only spent 63 days in its entire history above $12,000.

This number reduces even further when the data is looked at in Australian dollars. A Twitter pointed out that when looking at Bitcoin’s price against AUD, it spent even fewer days above $12,000—only 38.

All of this goes on to show that short-lived price spikes and drops shouldn’t be what determines Bitcoin’s true value.

Bitcoin | BTC

Updated: Nov 7 at 2:51 am UTC

Bitcoin, currently ranked #1 by market cap, is up 2.04% over the past 24 hours. BTC has a market cap of $189.65B with a 24 hour volume of $19.09B.

Chart by CryptoCompare

Bitcoin is up 2.04% over the past 24 hours.

Posted In: , Price Watch

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Priyeshu Garg

Priyeshu Garg

Analyst @ CryptoSlate

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds an engineering degree in computer science engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune 500 companies along with smaller firms. When he is not solving transportation problems at his company (Ola), he can be found writing about the blockchain or roller skating with his friends.

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