How Much a Person Could Have Earned on Bitcoin for the Past 5.5 years?
During the weekend our Chief Analyst decided to calculate how much on average a person could have earned on bitcoin for the last 5,5 years.
Of course, the received data cannot be absolutely accurate — otherwise we would have needed to get an access to all transactions of exchanging, appearance and disappearance of all existing during this time exchanges and exchange offices, information about private exchangings.
Our method is based on comparison of all possible options of purchase and sell for the last 1963 days (during the period between 27/12/2013 and 12/05/2019). We took all 1'925'703 possible options of purchase and sell at the average price on this day and multiplied it on the probability of making a transaction on this or that day. We established probability based on trading volume in this pair of days as relating to all trading volume for 5,5 years. We did not take into account trading within the day and possible private exchange operations. All data is available publicly and can be viewed on the site coinmarketcap.com
According to our calculations, if the number of investors will tend to infinity, then on average all these investors that bought and sold bitcoin on random days for the past 5,5 years, have earned 180 per cent of their capital. It does not mean that you can earn the same in the future, or that the majority of investors have earned, and not lost, on bitcoin in the past. This is just an approximate number the investors could have earned on average during this time (somebody lost 80 per cent, when another earned 1000 per cent).
Currently bitcoin again shows remarkable results and has already overcome the $8000 mark. If you decide to buy bitcoin at the best rate, you can always find the most profitable option with the help of our monitoring BestChange. com.
Would you find interesting calculations for other cryptocurrencies? Maybe you have advice or wishes how to improve our method?