{"id":28720,"date":"2023-10-21T03:31:26","date_gmt":"2023-10-21T06:31:26","guid":{"rendered":"https:\/\/tiproject.online\/index.php\/2023\/10\/21\/can-bitcoin-btc-price-reach-40k-with-70-of-investors-in-profit\/"},"modified":"2023-10-21T03:31:26","modified_gmt":"2023-10-21T06:31:26","slug":"can-bitcoin-btc-price-reach-40k-with-70-of-investors-in-profit","status":"publish","type":"post","link":"https:\/\/tiproject.online\/index.php\/2023\/10\/21\/can-bitcoin-btc-price-reach-40k-with-70-of-investors-in-profit\/","title":{"rendered":"Can Bitcoin (BTC) Price Reach $40k With 70% of Investors in Profit?\u00a0"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div>\n<h2 id=\"bitcoin-price-insights-october-20-2023\">Bitcoin Price Insights, October 20, 2023<\/h2>\n<ul>\n<li><span>Bitcoin (BTC) price broke above $30,000 on Friday, October 20, 2023, erasing the losses that resulted from Cointelegraph\u2019s false ETF approval news on Monday.\u00a0<\/span><\/li>\n<li><span>The entry price charts of current Bitcoin holders show that 70% of investors are now in profitable positions, the highest since August\u00a0<\/span><\/li>\n<li><span>The daily technical analysis charts highlight key resistance and support levels ranging from $26,750 to $40,000, which could impact BTC price action in the days ahead.<\/span><\/li>\n<\/ul>\n<p><span>Bitcoin\u2019s (<a href=\"https:\/\/www.fxempire.com\/crypto\/bitcoin\" target=\"_blank\" rel=\"noopener noreferrer\">BTC<\/a>) price rally broke above $30,000 on Friday, October 20, 2023, erasing the losses that resulted from Cointelegraph\u2019s false ETF approval news on Monday. On-chain data shows that the number of BTC holders in profitable positions has reached a significant peak.\u00a0<\/span><\/p>\n<p><span>Meanwhile, technical analysis indicators highlight this weekend\u2019s key resistance and support levels.\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n<div>\n<div>\n<h2 id=\"74-of-bitcoin-holders-are-now-in-profitable-positions\u00a0\"><span>74% of Bitcoin Holders are Now in Profitable Positions\u00a0<\/span><\/h2>\n<p><span>Bitcoin price cleared the $30,000 level on Friday, after a week-long consolidation phase at the $28,200 support level. On a more positive note, on-chain data now shows that the recent rally has propelled the overwhelming majority of BTC holders into profitable positions.\u00a0<\/span><\/p>\n<p><span>IntoTheBlock\u2019s <em>Historical In\/Out of Money<\/em> data groups the current Bitcoin holders\u2019 according to their entry prices. By comparing their entry\/purchase price to the current BTC market prices, it shows the number of holders In profit or loss positions (i.e. In\/Out of Money).<\/span><\/p>\n<figure id=\"attachment_1382711\" aria-describedby=\"caption-attachment-1382711\" class=\"wp-caption alignnone\"\/><\/div>\n<\/div>\n<div>\n<div><figcaption id=\"caption-attachment-1382711\" class=\"wp-caption-text\">Bitcoin (BTC) Addresses in Profit vs Price.\u00a0 | Source: <a href=\"https:\/\/app.intotheblock.com\/coin\/BTC\/deep-dive?group=financials&amp;chart=inAndOut\" target=\"_blank\" rel=\"noopener noreferrer\"><span>IntoTheBlock<\/span><\/a><\/figcaption><p><span>The chart above shows that out of the 41.38 funded Bitcoin addresses, 34.06 million, or 70.41%\u00a0 of them are now in profitable positions. Moreso, 2.7% are at break-even while the 26.87% are currently underwater.<\/span><\/p>\n<p><span>Typically, when the overwhelming majority\u00a0of investors on a blockchain network, it implies that there\u2019s an overall positive or optimistic outlook within underlying ecosystem.\u00a0<\/span><\/p>\n<p><span>In essence, without any mounting pressure of looming losses, BTC holders may not be looking to exit the markets anytime soon. Hence that optimism could see Bitcoin price rally gain more momentum to climb closer to $40,000.\u00a0<\/span><\/p>\n<h2 id=\"btc-price-forecast-road-to-35000\u00a0\"><span>BTC Price Forecast: Road to $35,000\u00a0<\/span><\/h2>\n<p><span>Bitcoin (BTC) is currently trading at $29,500. Multiple attempts at the $30,000 level in the last 24 hours days appear to have weakened the resistance marginally. Hence BTC looks in prime position to push further toward $35,000.<\/span><\/p>\n<p><span>In the daily time frame technical analysis, the Parabolic Stop and Reverse indicator also confirms this narrative.\u00a0\u00a0<\/span><\/p>\n<figure id=\"attachment_1382712\" aria-describedby=\"caption-attachment-1382712\" class=\"wp-caption alignnone\"\/><\/div>\n<\/div>\n<div>\n<div><figcaption id=\"caption-attachment-1382712\" class=\"wp-caption-text\">Bitcoin (BTC) Price Forecast, October 20, 2023 | Source: <a href=\"https:\/\/www.tradingview.com\/x\/pNoW8yjA\/\" target=\"_blank\" rel=\"noopener\"><span>TradingView<\/span><\/a><\/figcaption><p><span>\u00a0<\/span><span>The Parabolic SAR (Stop and Reverse) identifies potential reversal points in an ongoing market trend. The Parabolic SAR indicator dots for October 20 points toward $26,800 which is well below the current BTC price of $29,680. This alignment suggests a growing bullish trend.<\/span><\/p>\n<p><span>Hence, a decisive breakout above the initial resistance at $30,380 could accelerate the rally further toward $35,000. However, the next significant resistance at $31,565 could pose a challenge.\u00a0<\/span><\/p>\n<p><span>On the downside, the $26,600 territory remains support level to beat. <\/span><\/p>\n<\/div>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.fxempire.com\/forecasts\/article\/can-bitcoin-btc-price-reach-40k-with-70-of-current-investors-now-in-profit-1382710\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin Price Insights, October 20, 2023 Bitcoin (BTC) price broke above $30,000 on Friday, October 20, 2023, erasing the losses that resulted from Cointelegraph\u2019s false ETF approval news on Monday.\u00a0 The entry price charts of current Bitcoin holders show that 70% of investors are now in profitable positions, the highest since August\u00a0 The daily technical analysis charts highlight key resistance and support levels ranging from $26,750 to $40,000, which could impact BTC price action in the days ahead. Bitcoin\u2019s (BTC) price rally broke above $30,000 on Friday, October 20, 2023, erasing the losses that resulted from Cointelegraph\u2019s false ETF approval news on Monday. On-chain data shows that the number of BTC holders in profitable positions has reached a significant peak.\u00a0 Meanwhile, technical analysis indicators highlight this weekend\u2019s key resistance and support levels.\u00a0 74% of Bitcoin Holders are Now in Profitable Positions\u00a0 Bitcoin price cleared the $30,000 level on Friday, after a week-long consolidation phase at the $28,200 support level. On a more positive note, on-chain data now shows that the recent rally has propelled the overwhelming majority of BTC holders into profitable positions.\u00a0 IntoTheBlock\u2019s Historical In\/Out of Money data groups the current Bitcoin holders\u2019 according to their entry prices. By comparing their entry\/purchase price to the current BTC market prices, it shows the number of holders In profit or loss positions (i.e. In\/Out of Money). Bitcoin (BTC) Addresses in Profit vs Price.\u00a0 | Source: IntoTheBlockThe chart above shows that out of the 41.38 funded Bitcoin addresses, 34.06 million, or 70.41%\u00a0 of them are now in profitable positions. Moreso, 2.7% are at break-even while the 26.87% are currently underwater. Typically, when the overwhelming majority\u00a0of investors on a blockchain network, it implies that there\u2019s an overall positive or optimistic outlook within underlying ecosystem.\u00a0 In essence, without any mounting pressure of looming losses, BTC holders may not be looking to exit the markets anytime soon. Hence that optimism could see Bitcoin price rally gain more momentum to climb closer to $40,000.\u00a0 BTC Price Forecast: Road to $35,000\u00a0 Bitcoin (BTC) is currently trading at $29,500. Multiple attempts at the $30,000 level in the last 24 hours days appear to have weakened the resistance marginally. Hence BTC looks in prime position to push further toward $35,000. In the daily time frame technical analysis, the Parabolic Stop and Reverse indicator also confirms this narrative.\u00a0\u00a0 Bitcoin (BTC) Price Forecast, October 20, 2023 | Source: TradingView\u00a0The Parabolic SAR (Stop and Reverse) identifies potential reversal points in an ongoing market trend. The Parabolic SAR indicator dots for October 20 points toward $26,800 which is well below the current BTC price of $29,680. This alignment suggests a growing bullish trend. Hence, a decisive breakout above the initial resistance at $30,380 could accelerate the rally further toward $35,000. However, the next significant resistance at $31,565 could pose a challenge.\u00a0 On the downside, the $26,600 territory remains support level to beat. [ad_2] Source link<\/p>\n","protected":false},"author":1,"featured_media":28523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-28720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/28720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=28720"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/28720\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/28523"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=28720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=28720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=28720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}