- Number of Bitcoin addresses holding more than 1 BTC increase greatly
- Bitcoin adds a lot active addresses, alcoins lost a lot of them
Bitcoin is presently beckoning Bull Run, and cryptocurrency traders are not holding back. Accumulation of BTC in large volume is ongoing, no crypto enthusiast wishes to be left behind.
This period is seen as the time of reward in the crypto space. A time every investor hodls more but sell less, with the hope of seeing BTC soar to the next expected level.
The present market situation has indeed increased the search rate of Bitcoin on Google and other search engines. This implies that people around the world are getting more inquisitive on cryptocurrency.
Today’s Gazette earlier reported that African countries such as Nigeria, South Africa and Ghana were recently recognised as the geographical region that has distinctly increased searches related to Bitcoin and cryptocurrency over the last 12 months.
Quite a lot of Bitcoin Addresses Now Hold More Than 1 BTC
Kevin Rooke, a crypto analyst on twitter drew the attention of the crypto enthusiasts to the growth rate of Bitcoin since it started experiencing notable increase in value.
Rooke shared that as at May 19, 732,982 Bitcoin addresses now hold more than 1 BTC, which shows that the investors of the digital asset are optimistic about the stability of Bitcoin now and in the future.
The Bitcoin virus continues to spread.
732,982 Bitcoin addresses now own more than 1 BTC.
— Kevin Rooke (@kerooke) May 16, 2019
Bitcoin Active Addresses Keep Increasing Daily
Rooke in another post shared that Bitcoin has increasingly gained more active addresses on daily basis since April 2019.
According to the chart he uploaded, all other cryptocurrencies have lost quite a number of active addresses, only Bitcoin increased by 21.6%, with 150,000 daily active addresses.
This indicates that crypto investors are starting to sell their assets for Bitcoin, which would bring them more investment return.
Bitcoin has added 150,000 daily active addresses since April began.
Every other major coin has lost active addresses.
☠️ "Alt Season" is dead ☠️ pic.twitter.com/ytQMOKIyqm
— Kevin Rooke (@kerooke) May 10, 2019
Bitcoin has been moving back and forth, holding $8000 as a balancing edge for the past 48 hours. BTC is trading around $7,927.08 with 56.2% market dominance at press time.
Cryptocurrency enthusiasts and investors still keep hope alive over its growth, while some analysts advised potential traders not to accumulate yet, believing Bitcoin would undergo another price plummet before a long term and steady surge.