Key On-Chain Metric Shows a Strong Bitcoin Bull Rally is Brewing

jeshoots com 5EKw8Z7CgE4 unsplash 630x420

Bitcoin investors haven’t done too well over the past two months. Despite the near 100% recovery from the $3,700 lows seen on March 12th, the cryptocurrency remains more than 30% below the 2020 highs near $10,500. Fortunately, multiple sets of data and other signs indicate that a full-blown Bitcoin bull run is on the verge of taking place. Bitcoin Bull Rally Is Brewing As observed by Josh Olszewicz — a crypto analyst at Brave New Coin — the number of weekly active addresses on the Bitcoin network recently breached a nine-month high, surmounting levels seen all throughout the late-2019 and early-2020 bear market. This is important as previous upticks in this key metric coincided with the start of bull runs, with the metric rallying higher in early-2017, and exploding higher at the start of 2019. $BTC weekly active addresses at 9-month highs h/t @coinmetrics pic.twitter.com/jRtLCvWDDv — Josh Olszewicz (@CarpeNoctom) April…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE