The Price of Bitcoin (BTC) May Not Be Related to Active Addresses6

Despite a widespread belief among cryptocurrency holders and investors that active addresses of Bitcoin’s network are related to the metric following the movement of bitcoin (BTC) in the market, BTC charts between Jan. 17th and Mar. 17th is showing indications that the number of active addresses may not be related to the growing value of bitcoin after all.

Bitcoin saw 10.7 percent of gains during the last eight weeks on its 60-day chart, concluded with Mar. 17th, however, with the latest dip in its value as BTC went below $4,000 it is becoming more evident that the number of active addresses on Bitcoin network is not strictly related to the momentum of BTC in the market.

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