In August-September 2024, most speculators incurred losses
According to analysts at Glassnode, in August-September 2024, most players in the cryptocurrency market suffered losses due to the resurgence of a downward trend. During this period, many short-term investors began to panic sell their bitcoins, leading to losses for more than half of the speculators who entered crypto in the last six months.
The main sellers were long-term investors who had held their assets for over a year. HODLers found themselves in a more advantageous position as they had invested long before Bitcoin reached the $100,000 mark.
Market pressure intensified since March, especially after the first jump above $73,000. One of the most challenging periods occurred in August-September when the decline of Bitcoin coincided with the devaluation of the Japanese yen and a crisis in the stock markets in Asia. HODLers earned up to $2.1 billion a day in early August.