This Unusual Bitcoin Adoption Metric Sets New ATH

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Bitcoin price is as healthy as ever, remaining over $10,000 for its longest stretch yet. Supporting that healthy price action could be an adoption measuring metric reaching an all-time high record. And with the metrics turning its trajectory upward, it could suggest that the cryptocurrency’s valuation will soon follow. Here’s why. Bullish Bitcoin Price Action Potentially Fueled By Underlying Network Adoption Bitcoin price action in 2020 may not have been as bullish as it was in 2019, but it is a lot healthier. After rocketing from the low $3,000 range to high $13,000s, the crypto asset required a cool off phase that has taken months. It culminated with a deep crash on Black Thursday but has been on an upward climb since. A retest of the asset’s bear market bottom appears to have sealed the deal that bears can’t take Bitcoin price lower, and instead, bulls have been in control.…

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