Cryptocurrency

Bitcoin Exceeds 1 Mln Daily Active Addresses

Is Bitcoin Staging a Comeback? Here are Opinions from Experts
  • Last time Bitcoin exceeded 1 Mln daily active addresses, BTC was priced $9,350.
  • Bitcoin weekly on-chain transaction volume tripled in May.
  • Bitcoin to surpass $100K this year.
  • Binance catalyst news will kick off the next major bull cycle.

A number of haters are still yet to succumb their disgust for Bitcoin, believing the crypto asset is a scam or rat poison in spite of the huge gain investors are now getting and eyeing. Some even proclaimed that nobody except the fools are using Bitcoin, yet Bitcoin surpassed 1 million active addresses yesterday.

Over 1 million active addresses! An outstanding milestone the crypto asset only managed to achieve for the second time. The first time Bitcoin surpassed the interesting landmark was in November 2017, and data from CoinMetrics.io revealed over a million daily active addresses (DAA) are now using Bitcoin.

Bitcoin 1 million daily active adresses

Even though DAA doesn’t mean much practically, analysts have proclaimed that the 1+ million DAA performing transaction on Bitcoin blockchain is sure a good news for the cryptocurrency, and such signifies adoption boost.

For reference purpose, Kevin Rooke, a cryptocurrency analyst, reminded of happenings around Bitcoin (BTC) when it first surpassed 1 million DAA in Nov 27, 2017.

Rooke said 1 BTC was then priced around $9300 with an average transaction fee of $3.23.

While investors and lovers of cryptocurrency continue to anticipate and predict high prices for Bitcoin, stating that the winter period is over and more bulls are imminent, the above prove signals growth for Bitcoin.

Since April when Bitcoin ditched the bear, loads of beautiful updates have been on the side of the crypto asset.

It was reported that in days to the end of May, Bitcoin (BTC) recorded a weekly on-chain transaction volume of $60 billion.

Bitcoin To Surpass $100,000 This Year

The past 72 hours has been tremendous for Bitcoin and altcoins in the market. After a bullish rally in late May, which saw Bitcoin testing $9,000, the crypto king is back and above the resistance level.

With the present trend in the market, Bitcoin is answering the prayers of investors and traders as they roar for more bullish trend.

Nevertheless, they remain Oliver Twist that always want more. A cryptocurrency chartist on TradingView proclaims that more bulls are on the way and Bitcoin will exceed $100,000 this year.

Bitcoin to surpass 100K this year

While leveraging the Binance US trader restriction update which will take form in September 2019, the analyst proclaimed that he envisions more inflow for Bitcoin (BTC).

“With the recent news that Binance will restrict USA clients from trading on their platform I expect to see a pretty decent wave of capitol flowing from ICOs/Dap/anything not already traded on US regulated crypto exchanges, to those that are”, the analyst noted, adding that Bitcoin will be the major beneficiary.

The crypto chartist backed his $100K price prediction for Bitcoin with the fact that Binance’s latest update is such a catalyst that “you would expect to kick off the next major bull cycle.”

Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.

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About the author

Khalid Lawal

Lawal Khalid is an avid entrepreneur and a peace advocator. He takes time developing expertise in journalism, and he has significant contributions at Arianna Huffington's Thrive Global, Oracle Times, Coin Gape and a host of other notable news publications.

Owing to his long time interest in innovative technology, Lawal cut into the blockchain world, and he has been unearthing meaningful investigation as well as noteworthy blockchain researches.

Khalid sits at the helm of NewsLogical.com as a full time journalist and a senior market analyst.

Email: lawal.khalid@newslogical.com

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