Bitcoin Address Activity Still Growing At Historic Rates Despite Recent Pullback

Bitcoin Address Activity Still Growing At Historic Rates Despite Recent Pullback
фото показано с : zycrypto.com

2021-1-13 13:33

Bitcoin’s rally has slowed down in the last 24 hours with a pullback of over 15%. However, the activity of active addresses on the network continues to grow at “historic rates” despite this correction, data from Santiment shows. According to Santiment, this rise in activity in spite of the correction shows a clear difference from the 2017 bull run which was the opposite.

“#Bitcoin’s current address activity, despite the mild -6.7% correction the past 24 hours, continues growing at historic rates. Looking at the 30-day trend of daily active addresses, $BTC continues to increase in addresses unlike 2017’s historic run,” the on-chain data platform wrote on Twitter.

Current rally has stronger fundamentals than 2017

The 2017 bull market although the biggest one for the crypto market until 2020 is said to have been caused mainly by the cryptocurrency hype. It is no wonder the crash following the bull market was so phenomenal that most crypto assets are yet to recover from its impact. The current bull market however is different because it has a stronger background, the rising movement of active addresses being one of them.

The influx of institutional investors is another thing. In 2017, the bull market was mainly driven by retail buyers trying to make some quick money. While many of them succeeded, the growth was not sustainable because there were no long term investors who could give Bitcoin or any other crypto asset long term value. 

Institutional investors mostly referred to as whales, are the type who invest for the long run, thus allowing their money to stay on the network. This leads to increased value over time that is sustainable. This is still at the initial stage as the number of retail investors still far outweighs institutional investors. However, the effect is becoming more obvious compared to 2017.

BTCUSD Chart By TradingView

An analyst Timothy Peterson seems to agree with this position, saying the Bitcoin bull market is not yet over. He says the rally is not yet over until the price goes below the 200 Moving Average which is currently below $15,000.

ZyCrypto reports that another market pundit had declared the rally isn’t yet over till the asset gets to at least $50K although the crash after that will be epic.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Social Activity Token (SAT) на Currencies.ru

$ 0.0005196 (+0.67%)
Объем 24H $0
Изменеия 24h: 1.44 %, 7d: 12.76 %
Cегодня L: $0.0005196 - H: $0.0005196
Капитализация $65.971k Rank 1935
Доступно / Всего 126.967m SAT

despite pullback bitcoin rates historic activity active

Источник: zycrypto.com

despite pullback → Результатов: 81


The Most Profitable Buy Signal In Bitcoin Is About To Trigger Despite Distance From ATH

Bitcoin price this week set a new all-time high price record, taking the leading cryptocurrency by market cap to right below $20,000 before a minor pullback began. And while there is always a possibility that the asset could see a stronger correction given how overheated it is and how profitable the year of 2020 has been, one indicator is pointing to significant upside from here instead.

2020-12-2 18:00


Фото:

CME: интерес к bitcoin-фьючерсам растет

Bitcoin-фьючерсы набирают популярность на Чикагской фондовой бирже (CME): в третьем квартале 2019 года количество открытых контрактов выросло на 61% по сравнению с аналогичным периодом прошлого года.

2019-10-15 12:44


CME Group: интерес крупных инвесторов к биткоин-фьючерсам растет

Оператор Чикагской товарной биржи (CME Group) заявил о росте популярности ее биткоин-фьючерсов: в третьем квартале число открытых контрактов выросло на 61% по сравнению с аналогичным периодом прошлого года.

2019-10-15 10:49


Resilient Dow Clings to 27,000 Despite Trump’s ‘Locked & Loaded’ Threat

The Dow might not extend its eight-session winning streak into the new week, but the stock market bellwether is proving its resilience following a historic disruption to the global oil industry. Dow Risks Snapping 8-Day Winning Streak Wall Street’s major indices all incurred losses at the opening bell, but the market’s pullback wasn’t nearly as […] The post Resilient Dow Clings to 27,000 Despite Trump’s ‘Locked & Loaded’ Threat appeared first on CCN.com

2019-9-17 16:37


Bitcoin Price Spikes 10% in 2-Day Rally Despite Lacking Retail Investor Flurry

Over the past 48 hours, the bitcoin price has surged by more than ten percent against the U.S. dollar from $11,328 to $12,545 on regulated crypto exchanges like Coinbase Pro and Kraken. Earlier this month, the bitcoin price dropped to as low as $9,700 in a relatively large pullback that was anticipated by traders for […] The post Bitcoin Price Spikes 10% in 2-Day Rally Despite Lacking Retail Investor Flurry appeared first on CCN Markets

2019-7-9 12:47


В Binance обнаружили, что корреляция биткоина и других криптовалют существенно снизилась

Исследовательское подразделение биржи Binance опубликовало квартальный отчет, в котором оценило корреляцию цифровых активов между собой. Так, согласно докладу, корреляция биткоина и остального рынка значительно снизилась в сравнении с показателями первого квартала текущего года.

2019-7-6 12:25


В Binance обнаружили, что корреляция биткоина с другими криптовалютами существенно снизилась

Исследовательское подразделение биржи Binance опубликовало квартальный отчет, в котором оценило корреляцию цифровых активов между собой. Так, согласно докладу, корреляция биткоина и остального рынка значительно снизилась в сравнении с показателями первого квартала текущего года.

2019-7-6 12:25


Bitcoin Price Sinks to $7,500 as Analyst Predicts Further 30% Plunge

By CCN Markets: In the past 24 hours, the bitcoin price has dropped from $7,900 to around $7,500 by more than five percent against the U. S. dollar in a minor pullback in the crypto market. Within the last seven days, the bitcoin price has fallen by over ten percent, which has led technical analysts in the crypto market to ponder about the possibility of an extended pullback despite the market’s positive macro landscape.

2019-6-10 09:33


дальше еще 32 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Turns Green: Poised for a Major Upswing

Bitcoin price started a fresh increase above the $70,000 resistance. BTC is showing positive signs and might rise further above the $72,000 resistance in the near term. Bitcoin started a decent increase above the $69,500 and $70,000 resistance levels.

Bitcoin Price Gains Momentum: Bullish Surge Ahead?

Bitcoin price found support at $67,000 and started a fresh increase. BTC climbed above $69,500 and might continue to rise in the near term. Bitcoin started a decent increase above the $68,500 and $69,500 resistance levels.