Bitcoin News: Witnessed the highest net profit/loss in Bitcoin history. Lex Moskovski, Moskovski Capital Chief Investment Officer and Bitcoin (BTC) analyst, commented on this result. Moskovski interpreted the details of the most painful sell-off for ‘young’ Bitcoin users (BTC) ever as bloody record.
Figure 1. Bitcoin Realized Profit/Loss ratio
According to Lex Moskovki’s latest gweets, investors are selling their cryptocurrencies at a great loss as Bitcoin (BTC) prices continue to decline.
Moskovski demonstrated the data via leading blockchain analytics firm Glassnode. According to these results, BTC holders with weak hands are going through the most painful sales ever. According to Glassnode data, which shows the aggregated profit or loss of all BTC addresses for a given day of activity, the Net Actual Profit/Loss ratio has hit its lowest levels in history.
Investors will remember last Friday with an unprecedented net loss of $3,450 million for BTC, which is far more dramatic than the market experience on Black Thursday.
Meanwhile, some of Moskovski’s followers, including prominent analysts Willy Woo and Charles Edwards, argue that the scale of the tragedy is largely due to the increase in BTC market capitalization.
Basically, the selling pressure on BTC comes from the short-term investor group. In this statement, Mr. Moskovski echoed the predictions of BTC analyst William Clemente.
In the latest The Pomp Letter, Mr. Clemente stated that long-term investors are aggressively buying Bitcoin (BTC) amid panic selling by startups.
Analyst Clemente added that crypto whales may be “preparing the ground” for the rise of the Bitcoin (BTC) rally.