According to data from Coin Metrics, Bitcoin has reached an essential breakthrough. As of June 14th, 2019, the original digital asset was pushing towards its highest levels of activity with over 1 million active addresses.
The last time Bitcoin saw this level of unique addresses in motion was November 27, 2017.
Kevin Rooke pointed out on Twitter that milestone was reached and mocked, “nOboDY uSeS BiTcOin” in a tweet. He followed up with some more information on the last time there were this many active addresses and compared to the current situation in the market.
When Bitcoin first broke 1 million active addresses (Nov 27, 2017), 1 BTC was $9,352 and the median tx fee was $3.23.
Yesterday 1 BTC was $8,230 and the median tx fee was $1.33.
— Kevin Rooke (@kerooke) June 15, 2019
The price is expected to rise with the added activity. As both transactions and active addresses continue to climb, the value of Bitcoin may climb back towards all-time highs.
Active addresses and total transaction volume is not the only thing that has been on the rise in the cryptocurrency world. Not too long ago, it was reported that bitcoin-related Tweets were also surging.
The Cryptocurrency analytics site, TheTIE.io reported that in May, Tweets about Bitcoin were way up. Cofounder, Joshua Frank said the Bitcoin Twitter action was notable.
“At 17 days of consecutive growth, BTC is seeing its longest streak of increased 30-day average tweet volume since 2017.”
Every time Bitcoin pumps, the masses are looking for comparisons to late 2017, when BTC was soaring. The cryptocurrency community is feeling optimistic now that Bitcoin is testing the $9000 range again. But if the cryptocurrency markets take another hit and dip, the mood would turn 180 degrees.
