June 11 was an important day for the platform: the number of active Bitcoin addresses (BTC) increased to 1,040,244. Well, many analysts firmly believe that there is a correlation between the number of active directions and the market price.
This is the highest number recorded since 2018, which indicates that, in theory, thanks to this increase in active addresses there may also be one in the price of Bitcoin.
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Bloomberg supports possible increase in Bitcoin price
Bloomberg analysts noted in their latest Bloomberg Crypto report that, historically, if active directions increase, Bitcoin is prone to appreciation. This unless the increase is abruptly reversed.
„The higher level of active addresses in about two years favors a higher price for Bitcoin, if we use history as a guide,“ explained Bloomberg.
Bloomberg mentions that this trend may mean that the price of Bitcoin Up will be supported in a range above US$ 10,000.
They also report that the cryptomoney seems to be following the same path of 2016, just before the unprecedented increase in value in 2017. Its peak was close to US$ 20,000 per BTC, and Bloomberg believes this can be repeated or surpassed this year, possibly reaching US$ 28,000.
If you select the historical dates on which there were approximately 1,040,244 active Bitcoin addresses and take an average of the price, you get a value of approximately US$ 14,700. Of course, there is no exact way to say that this will happen, but according to Bloomberg and the background, there is a considerable probability in favor.
Last but not least, the increase in active addresses indicates a growing adoption of Bitcoin. This is a very positive development for the platform and its future.
And you, do you think Bitcoin will reach any of the above mentioned prices? We are waiting for your opinion in the comment box.