As the bull are waking up, activity on the BTC network is at the level of 2017
2 min readBitcoin recorded the highest price in one year before the slump. Its monthly candle is the highest since December 2017. The activity of the blockchain network, which is at the level of 2017 when the bull run, is not left behind.
Network activity is at the level of 2017
There are already over 18 million active and unique BTC addresses. With the new data came the analytical platform Glassnode, which also shared it in its contribution to the social network Twitter:
“With 18.7 million unique BTC addresses, Bitcoin activity is on the rise and at a level that has not been seen for over 2.5 years. In entire history of the cryptocurrency, this July’s activity has been surpassed only twice. In December 2017 and January 2018. “
Alistair Milne, a major investor in the Altana Digital Currency Fund, explained in a recent tweet another series of key factors that drive activity and price up.
- Bitcoin closed the second tallest candle in history
- There is a record number of investors who hold the cryptocurrency for over a year
- Massive press of capital by the government of the United States and other states
- Record low interest rates
- Gold has risen to the highest price in history
- Lack of mainstream media coverage
The great downturn in the economy also plays “digital gold” into the cards. However, care must be taken that in the event of a major crisis, the shares do not take the price of BTC down. But it doesn’t look like that yet.
You might also llike: The best crypto airdrops in August that you should not miss
