Bitcoin investors who purchased it in early 2021 are still losing money

Bitcoin investors who purchased it in early 2021 are still losing money

• Despite BTC's price surge this week, crypto newcomers are still in the red.
• 75 percent of the realised market capitalization of BTC is made up of these crypto newbies.
• BTC is presently worth $23,371.30 on the market.

Most cryptocurrency novices who invested in Bitcoin (BTC), the top cryptocurrency by market cap, are now in the red.

Ki Young Ju, the CEO of CryptoQuant, claims that early 2021 BTC newbies are still in the red. They account for 75% of the overall realised market cap, he continued.

According to the cryptocurrency market monitoring website CoinMarketCap, the price of BTC has increased during the last day by about 6.81 percent, bringing its price to $23,371.30. This implies that the price of BTC has increased by 20.25 percent during the previous week. BTC has also become stronger in relation to the price of Ethereum (ETH) by 3.99 percent, with one BTC currently trading at around 14.98 ETH.

Is there a probability that early 2021 BTC investors will recoup their losses and maybe turn a profit?

the weekly BTC/USDT chart (Source: CoinMarketCap)

According to the weekly Bitcoin/USDT chart, the initial price of bitcoin in 2021 was $33,000. Investors who invested over this period are currently down about 29.18 percent based on the current price of BTC.

Given that the price of BTC has increased over the past week, it is still too early to judge whether or not BTC has begun a bull run. The issue is that, when it approached the 9 EMA line, which has served as a resistance level during this bad market, it appeared to have lost some impetus.

The next barrier, the 20 EMA level at about $30,000, will be encountered if BTC breaks above the 9 EMA level and can flip it.

The degree of negative slope for both the 9 and 20 EMAs indicates that BTC's price has climbed too quickly over the past week, and it now faces the difficult task of reversing the negative momentum that has been building up over the previous few weeks.

Disclaimer: The author's views and opinions are the only ones stated in this piece; they do not necessarily represent those of SONY Net Business. Nothing in this piece of writing should be taken as investment advice. All users are urged by SONY Net Business to conduct independent research before making cryptocurrency investments.