Bitcoin On-Chain Activity Heats Up: Active Addresses Count Sees Sudden Rebound

Quick Summary:

Bitcoin might be having trouble initiating a major rally soon, however, investors’ interest in the flagship digital asset appears to be growing as the number of active addresses has begun to rise once again, indicating heightened engagement from both old and new investors.

According to the expert, this indicator is still one of the most important base-level on-chain metrics, despite a decline in forecast accuracy during the last four years.

The chief crypto analyst at Real Vision, Jamie Coutts shared the development on the X (formerly Twitter) platform on Tuesday.

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Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: Hungary

Topics: Bitcoin Nfts ETFs BTCUSDT Ordinals Non Fungible Tokens Real Vision Bitcoin Puell Multiple Indicator Btcusd Bitcoin News Btc Exchange-traded funds Crypto Bullet Jamie Coutts

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-09 @ 20:00:26 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 426 words

Reading Time: 3 minutes read

Sentences: 28 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 22971749

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About Bitcoinist

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Official Website: bitcoinist.com

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Year Established: 2014

Headquarters: Hungary

News Last Updated: 10 hours ago

Coverage Areas: Hungary

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