Increase of active addresses of Bitcoin

Last June 11 was an important day for the platform: the number of addresses to Bitcoin (BTC) active had an increase, and came to 1.040.244. Why was it important? Therefore, many analysts firmly believe that there is a correlation between the number of active addresses and the market price.

This is the highest number recorded since the 2018, indicating that, in theory, thanks to this increase in the active addresses may also be one in the price of Bitcoin.

Bloomberg supports the possible increase in the price of Bitcoin

Analysts Bloomberg noted in its latest report of Bloomberg Crypto that, historically, if the active addresses increase, Bitcoin is prone to appreciation. This is less than the increase to reverse abruptly.

“The highest level of active addresses in about two years and favours a higher price of Bitcoin, if we use history as a guide,” explained Bloomberg.

Price of Bitcoin in relation to the number of active addresses. Source: CoinMetrics

Bloomberg mentions that this trend may mean that the price of Bitcoin will be supported in a range top US$ 10,000.

Also, they reported that the criptomoneda seems to be following the same way of the year 2016, just before the rise of unprecedented value, 2017. Its peak reached almost US$ 20,000 per BTC, and Bloomberg believes that this can be repeated or exceeded this year and could even reach up to US$ 28.000.

If you are selected historical dates in which there was an approximate 1.040.244 addresses of Bitcoin active and takes an average of the price, you get as result a value of US$ 14.700, approximately. Of course, there is no exact way to say that this will happen, but according to Bloomberg and the background, there is considerable probability in favour of it.

Finally, and not least important, the increase of the active addresses indicates a growing adoption of Bitcoin. This presents a breakthrough very positive for the platform and its future.

And you, do you think that Bitcoin will some of the prices mentioned above? We look forward to your opinion in the comment box.

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