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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

Top Countries by Bitcoin Nodes: US and Germany in the Lead

  • Alex Morris
    📊‍ Infographics

    More than 50 percent of Bitcoin nodes are attributed to only three countries

Top Countries by Bitcoin Nodes: US and Germany in the Lead
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A recent DataLight study shows the countries with the biggest amount of Bitcoin nodes as of Feb. 25. The US and Germany are responsible for 44.08 percent of all reachable Bitcoin nodes.

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A world of difference  

Bitcoin nodes are essential for keeping the network stable and secure. However, there is a regional paucity of available nodes. The lion’s share of them, as the map shows, are located in only three countries: the US, Germany, and France, with 2,625, 2,016, and 698 reachable nodes respectively. For comparison, in Kenya, where Bitcoin is witnessing growing popularity, there are only four nodes.
Top Countries by Bitcoin Nodes: US and Germany in the Lead
It is worth noting that China now only runs 3.90 percent of all nodes in the world due to recent regulations that require all nodes to be registered with the government to acquire legal status.

More caveats

Bitcoin nodes require electricity, but the problem is that those who run them are not incentivized with mining rewards. Hence, there are only altruistic intentions to protect the network. On the flip side, a lot of Bitcoin enthusiasts simply aren’t able to support the network because of the ASIC monopoly.

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Number of Active Bitcoin Addresses Continues to Grow While BTC Price Remains in Limbo

  • Alex Morris
    📊‍ Infographics

    💪💥There is a divergence between new addresses and the BTC price, but it doesn’t mean that another bull run is coming anytime soon

Number of Active Bitcoin Addresses Continues to Grow While BTC Price Remains in Limbo
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There has been a common belief that the number of active Bitcoin addresses and the asset’s price are somehow correlated. However, it turned out not to be the case after the latter continued to stagnate despite the Bitcoin user base growing significantly over the last eight weeks.

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Little impact on price

While the number of Bitcoin addresses increased by 17 percent since Jan. 20 till March 17, the Bitcoin price only experienced minuscule growth of 1 percent over the same period of time. The fact that there is a divergence between the number of addresses and the Bitcoin price doesn’t necessarily mean that another bull run is in the offing. In fact, there was steady growth in active addresses during the prolonging bear market (since 2014 till 2016), and it didn’t impact the price.

👉MUST READ Here’s How Much Bitcoin North Korea Amassed After Hacking Asian Cryptocurrency Exchanges

The TAAR metric  

Transaction volume is a more reliable metric when it comes to determining the tops and bottoms of the Bitcoin market. However, in order to get the most precise correlation, one has to factor both average trading volumes and the number of active users (the TAAR metric). The TAAR tends to be a fairly accurate indicator of an upcoming bullish/bearish trend. 

The TAAR metric  

 

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