Ethereum or Bitcoin? On What Investors Earned More?

Kataryna Kovtun August 18, 2020

BitXmi

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Ethereum or Bitcoin? On what investors earned more during the summer?

Bitcoin’s price reached $ 12,000. 95% of investors earned from buying coins. Almost all users who store cryptocurrency on over-the-counter wallets have purchased it for less than the current price and can take profits. Ethereum investors are in a worse position, holders of two popular coins probably regretted their choice.

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Today, August 18, the bitcoin rate rose to $ 12,400, now it has dropped to $ 12,230 on the BitXmi cryptocurrency exchange. Thanks to this, the number of investors who store cryptocurrency in over-the-counter wallets has increased and can sell it, fixing a profit. Now the share of such users is 95%. All the rest were buying BTC in the range from the current price to $ 20,000.

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The situation of Ethereum holders is a little worse. Today the altcoin price has climbed above $ 440. At the same time, the share of investors who can sell the coin and make a profit has reached 77%. 1.8% of users bought cryptocurrency and transferred it to their wallet at approximately the current rate. The remaining 20.2% are more expensive.

The correlation index of Ethereum and Bitcoin quotes reached 0.96. It means that the ETH rate almost always repeats the changes in the BTC price. The concentration index, which shows how many coins are in the hands of large investors, is 40%.

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On what other coins investors earned?

Chainlink (Link) token holders have one of the best positions on the market. Read more about LINK`s token rate here… Approximately 90% of long-term investors could have taken profits back in early July when the coin rate renewed its all-time high at $ 5. Since then, the cryptocurrency has risen in price by 240%, to $ 17.2, at the moment the quotes rose above $ 18. 94% of users bought the coin at the current rate, the remaining 3% bought it at a higher price or can sell it at no loss.

The value of the index, the correlation between the Link and Bitcoin quotes is at around 0.6, the dependence of the token on the leading digital coin is low. However, 81% of the altcoin emission belongs to large players.

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What coins are the losses of investors?

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Holders of Litecoin and Ethereum Classic earned less than others. In the first case, only 43% of investors can take profits by selling altcoin at the current rate of $ 57, 49% suffer losses. In the second, 39% of users purchased the asset cheaper than the current price of $ 6.9, 60% bought it at a higher price. The value of the correlation index with BTC for both assets is above 0.92. Almost half of the LTC emission is stored in the wallets of large players. For ETC this figure is even higher — 73%.

In early August, the Ethereum rate climbed to $ 415. Analytical service Glassnode reported that at that time, the share of investors who can take profit reached 90%. The previous time this figure was at the same level in February 2018, before the price of ETH began to decline from $ 900 to $ 100.

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