Bitcoin (BTC) New Address Count Surges 12% In One Day. Bullish Sign?

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Thu, 03/26/2020 - 14:40
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  • It looks like even confident no-coiners are currently buying their first Bitcoins (BTC) amid the increasing economic turbulence. Some figures speak for themselves

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The Glassnode blockchain & crypto data research firm tracks numerous meaningful metrics of the Bitcoin (BTC) network processes. The three-day moving average of new addresses is among the most sensitive indicators.

New addresses are on the march

According to Glassnode Alert, a service by Glassnode analytical mechanisms, which automatically reports the most interesting facts on blockchain networks, Bitcoin (BTC) is experiencing a rapid influx of new addresses.

As reported by the service, the three-day MA of new addresses surged 11.7% in the past 24 hours. Still, the Bitcoin (BTC) network is nowhere near its most active days.

Is rapid growth a bullish indicator?

Some analysts treat sharp positive movements in the Bitcoin (BTC) network as a harbinger of future price growth. For example, the last Bitcoin (BTC) bullish run, in February of 2020, coincided with the number of new ATH non-zero addresses.  

At print time, Bitcoin (BTC) is trading at $6,625 on major spot exchanges after being violently rejected by bears at the $7,000 level. 

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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Fri, 04/10/2020 - 08:40
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  • The Tesla and SpaceX CEO basically tweeted that the US economy is about to get pretty screwed up

Cover image via www.instagram.com

Elon Musk has posted a tweet with an astronaut standing on the Moon watching a meteorite hitting the Earth and then flying through it in a cloud of fire. 

The CEO of Tesla and SpaceX, one of the most famous entrepreneurs of the modern world, might be sharing his take on the consequences of the coronavirus pandemic and the fact that the US Fed Reserve is printing another giant sack of USD to support businesses.

Meanwhile, the situation for average Americans is getting worse. Two weeks ago, the number of jobless claims in the US totaled 3.3 mln.

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Then reports shared figures of 3.2 mln and 6.6. mln again last week. This week, 6.6 mln more people filed their jobless claims.

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The US Fed Reserve keeps printing dollars and intends to give US citizens government cheques, $1,200 per month, to help them survive in the COVID-19-caused financial crisis.

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Bitcoin (BTC) to Get Gains from Stock Market: US Congressional Candidate - READ MORE

Some economists are warning that the US is heading for another Great Depression. The one that happened in 1929-1930 may seem like child’s play next to this one.

Crypto influencers and VC investors, such as Anthony Pompliano, and even some politicians are betting on Bitcoin, saying that it is a good store of value right now.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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