There were only 3,3% of days In Bitcoin's History That Were Not Profitable

lixer

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Quote from: SuperTA on August 01, 2019, 03:02:00 PM

Bitcoin was the best major asset for investment. No matter if you look for the 6 months return , 1 year return, 3 year return, 5 year return or 10 year return. I hope you guys get it now. There is no better performing asset if you look at the global major assets.

I think that is exactly the message that the op is trying to pass across, it means bitcoin has hard more positive opportunity than the negative some of us do see. The fact that we did not do or assignment very well to find that opportunity does not mean it did not present itself and we can see from the analysis of the op that bitcoin has always been profitable all along.

Bitcoin is going to forever be the best investment which is reason why there should not be anyone that would ever come to the cryptocurrency market to trade or buy coin without first considering bitcoin investment first. This is the only coin that can guarantee anyone of future and stand for him or her even when all other coins has failed such user, investors or such trader of that coin.

SuperTA

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Exactly! Maybe it's an ordinary thing to you, but please show me any other major asset that was outperforming bitcoin in the last 6 months, 1 year, 3 years, 5 years or 10 years. Personally i'm amazed by that.

shield132

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Quote from: SuperTA on July 28, 2019, 04:24:46 PM

Only 129 days out from 3857 days (3,3%) were not profitable in the history of bitcoin's trading. This means if you bought bitcoin, you are profitable. Except if you bought in those 3.3% cases. Yea, it's hard to believe but for an example...It took only 23 days for bitcoin to go from 8390 usd to almost 20.000 usd. In my opinion, even those buyers who bought at the top will eventually be in profit. If they hold of course! So the moral of the story is - just HODL Wink

Until a massive adoption!

If we think that way, then for satoshi, there were 0 days when bitcoin wasn't profitable. Also there were almost none days for those who bought bitcoin very early. But there were more than 3.3% unprofitable days for most of bitcoin users. Most part of people bought bitcoin when price become 10K and higher, these was days when bitcoin gained huge attention because of it's price rise and this was the time when bitcoin got under massive attention of media. Also there were a lot of redditors who invested when price was on top. Can't understand what's the point of your percentage, don't take it wrongly but it's really meaningless.

roosbit

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3.3% that's a shocker!

Thought the percentage would be higher but seeing the number of days been considered this might be true and the fact that their people out there that still make a profit regardless of a bear or bullish market the stats are quite possible.

SuperTA

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Bitcoin was the best major asset for investment. No matter if you look for the 6 months return , 1 year return, 3 year return, 5 year return or 10 year return. I hope you guys get it now. There is no better performing asset if you look at the global major assets.

deisik

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Okay, guys, here's an explanation for the inquiring minds as to what OP means. And what he actually means by his cryptic posts in this thread is quite simple really. By 129 unprofitable days he obviously means the period of time since the late November 2017 when Bitcoin had first risen above 13k (and then proceeded to an ATH of 20k) till mid-January 2018 when it fell below 13k. If you add to this period the time when Bitcoin was above 13k this year, you will definitely get a couple of months which could be related to as non-profitable days in the entire history of Bitcoin from today's perspective

Whether it makes any sense at all is another question, though

SuperTA

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I already mentioned. It's not considered for a day trading but for hodling. There was only 129 days when bitcoin had a lower value.

TheCoinGrabber

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How did you come up with that statistics? And why would you say those days were not profitable? If it was coz the price dropped then it could still be considered "profitable" if you used the opportunity to grab coins on the cheap.

Even last month, there was a chance for some profit when it hit $12k and then dropped to $9,400.

Of course HODL long-term but the riding the cycles allow accumulation of more BTC, which would be more valuable the longer you stay in.

SuperTA

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Quote from: ene1980 on July 29, 2019, 12:26:11 PM

Quote from: SuperTA on July 28, 2019, 04:24:46 PM

Only 129 days out from 3857 days (3,3%) were not profitable in the history of bitcoin's trading. This means if you bought bitcoin, you are profitable. Except if you bought in those 3.3% cases.

That is a good way of taking things as i never thought in this way, but i have a small doubt, almost the entire 2018 was a on a bear ride and i am sure it is more than 129 days, so how does this number stand is a mystery Wink

.

Yes, there was a bear in 2018. But right now, bitcoin is worth 10k usd. You don't count those days where bitcoin was below 10k. If you bought in 2018 at 6k or 3.2k or 9 k, you are profitable! At the current price.

shulc7

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Quote from: SuperTA on July 29, 2019, 08:45:26 AM

It's just a sign how bullish bitcoin is in the longterm. If you look at the bigger timeframe chart, it was always bullish. Not just in dec 2017 but always! If you guys don't see that, something that is so obvious, i cannot help it.

Although I cannot understand why 3+% were not profitable only, I agree that cryptocurrencies are going to grow all the time. Bitcoin, being protected from inflation, will be the leader of this growth. If a person lives in a country where inflation is extremely high, it is much better to invest in crypto even if the crypto market is going to be too volatile in the nearest time.

stompix

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Quote from: deisik on July 29, 2019, 05:24:38 AM

That is, there are (were) only 129 or so days when today's price was lower than in those days. Obviously, that refers to the period of the recent spike to nearly 14k as well as the period in November through December of 2017. But this is a ridiculous approach since somewhere near the end of 2017 it could be said that Bitcoin had been profitable throughout its entire lifetime (up to that date)

Nothing ridiculous more like childish approach
When anything being crypto or stocks reach an all-time high it's impossible for anybody that has bought and hodl to be at a loss.

The main problem would be the number of people involved since OP is counting the days from the first block, but the first-ever trade happened in October, that's a full 10 months or 300 days or 8% of the time when NOBODY bought any coins for fiat.

And how many bought in the first days, and how many in those 100 bad days?
Looking at the volume, we could draw another hasty conclusion, the majority of buyers are unlucky Tongue

Janation

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Looking for a long-term perspective, Bitcoin is really profitable investment.

It dumps, it pumps but there are a lot of times that it increases rather than it decreases. Traders will obviously say no to this since most of them are doing a daily trade, in terms of holders, I guess they earned it but I like to be a trader than a holder since Bitcoin is not the only cryptocurrency where you can earn good profits.

michellee

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Hold will be a good strategy to make a profit from these situations, and I agree with you that now, we could make a profit if we could buy at a low price. But not all people could hold their bitcoin for a long time, even for a short time because many people still panic to see the situations that still change. But now, we have a new story in bitcoin, and we don't know how long bitcoin can increase again, but many people still believe that bitcoin will rise again as what they saw in 2017-2018.

sana54210

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Quote from: SuperTA on July 28, 2019, 04:24:46 PM

Only 129 days out from 3857 days (3,3%) were not profitable in the history of bitcoin's trading. This means if you bought bitcoin, you are profitable. Except if you bought in those 3.3% cases. Yea, it's hard to believe but for an example...It took only 23 days for bitcoin to go from 8390 usd to almost 20.000 usd. In my opinion, even those buyers who bought at the top will eventually be in profit. If they hold of course! So the moral of the story is - just HODL Wink

Until a massive adoption!

Wow, I never knew this, which means anyone that knows how to also trade daily would benefit more than those that are just Holding, although there is absolutely nothing wrong in holding, it all depends on people’s capability and strength, but anyone with the strength of trading and holding will actually benefit more, imagine having gains on those 3k+ days, I guess this is why we have many traders in the market and I think it is the trading activities that is mostly causing lots of these fluctuations in the market.

I also agree that those who mistakenly invested at the All-time high of the last bitcoin will also benefit this time around because bitcoin will absolutely shoot more than the last value.

fiulpro

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Quote from: SuperTA on July 28, 2019, 04:24:46 PM

Only 129 days out from 3857 days (3,3%) were not profitable in the history of bitcoin's trading. This means if you bought bitcoin, you are profitable. Except if you bought in those 3.3% cases. Yea, it's hard to believe but for an example...It took only 23 days for bitcoin to go from 8390 usd to almost 20.000 usd. In my opinion, even those buyers who bought at the top will eventually be in profit. If they hold of course! So the moral of the story is - just HODL Wink

Until a massive adoption!

You are actually missing the point .
The problem is that Bitcoins only 3-4 times a year shows a upward trend , in 2016-17 we were able to see the most profitable bullish run and after that we nearly waited for 2 years for it to be good again.
So it is actually 2 years now , I don't think your calculations are quite right , you should include everything not just slight upward trend , even if it's a lil up it's still less than 20,000 thus even right now we are actually in a whole lot of problem considering we purchased at the high time.

ene1980

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Quote from: SuperTA on July 28, 2019, 04:24:46 PM

Only 129 days out from 3857 days (3,3%) were not profitable in the history of bitcoin's trading. This means if you bought bitcoin, you are profitable. Except if you bought in those 3.3% cases.

That is a good way of taking things as i never thought in this way, but i have a small doubt, almost the entire 2018 was a on a bear ride and i am sure it is more than 129 days, so how does this number stand is a mystery Wink

. The fact is that holding bitcoin for a longer period of time will give you a good return and even if you entered the market when the market was at an all time high valuation, the only solution is to hold for the next rally rather than selling it off at a loss.

milewilda

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Quote from: SuperTA on July 28, 2019, 04:24:46 PM

Only 129 days out from 3857 days (3,3%) were not profitable in the history of bitcoin's trading. This means if you bought bitcoin, you are profitable. Except if you bought in those 3.3% cases. Yea, it's hard to believe but for an example...It took only 23 days for bitcoin to go from 8390 usd to almost 20.000 usd. In my opinion, even those buyers who bought at the top will eventually be in profit. If they hold of course! So the moral of the story is - just HODL Wink

Until a massive adoption!

Talking nonsense or nothing special here where you do just simply suggest the word HODL.I dont know about 3.3% statistics on where you do get those numbers when it comes to profitability.
Come to think that not all traders are having similar entries and exits so pointing out about non-profitability would always matter on when you buy and sell it out.

Lucius

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I will not go into OP numbers, but viewed from a long-term perspective Bitcoin is incredibly profitable for all investors who invest from start and hold until today, with the exception of those who invest in December 2017 - January 2018 when price is over $15 000 since we recently have almost $14 000.

In general you can not lost anything if you hold Bitcoin who is losing value against fiat in short-term, because Bitcoin is always show that it can set new records with time. Just take 2015, price of 1 Bitcoin is around $200, on some exchanges even lower - today value of that Bitcoin is 50 times more in fiat value, and it was 100 times more in late 2017.

Bitcoin is always profitable, it only depends how we can take all advantages that is offer for us. Imagine that just few months ago we are so close to $3000, and look at price today, more then 3 times up.

SuperTA

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It's just a sign how bullish bitcoin is in the longterm. If you look at the bigger timeframe chart, it was always bullish. Not just in dec 2017 but always! If you guys don't see that, something that is so obvious, i cannot help it.

deisik

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Quote from: jseverson on July 29, 2019, 04:15:58 AM

Quote from: deisik on July 29, 2019, 03:22:23 AM

Quote from: jseverson on July 29, 2019, 01:13:11 AM

-snip

That still doesn't account for 129 losing days. In fact, it can be useful but we need to know the methodology used in order to make something tangible out of this information

I'm not sure, but I think he might have looked over the historical data and counted the days when Bitcoin's (day average?) price was lower than it is now, meaning he found a grand total of 129 days that fit that criteria

You likely meant to say higher, right?

That is, there are (were) only 129 or so days when today's price was lower than in those days. Obviously, that refers to the period of the recent spike to nearly 14k as well as the period in November through December of 2017. But this is a ridiculous approach since somewhere near the end of 2017 it could be said that Bitcoin had been profitable throughout its entire lifetime (up to that date)

Quote from: jseverson on July 29, 2019, 04:15:58 AM

It's probably something like this tweet, which gained a fair amount of attention:

Quote from: https://twitter.com/jwilliamsfstmed/status/1134471601427292160?s=12

You made money if you bought Bitcoin and held it until today in 122 of the 125 months that Bitcoin has been available

This train of reasoning is not far from suggesting to ride a time machine and get back to 2010 in order to buy up thousands of bitcoins for pennies

Topic: There were only 3,3% of days In Bitcoin's History That Were Not Profitable (Read 353 times)