A First In Bitcoin Since January 2018! “This Could Bring BTC to $ 20,000”
As technology researcher Kevin Rook points out, the Bitcoin network registered 1,120,216 active addresses on August 6, 2020. This is the highest level of usage the leading cryptocurrency has seen since January 2018. This eventually pushed BTC to an all-time high of $ 20,000.
Bitcoin updates 2020’s highest level for active addresses
Remarkably , Bitcoin broke the record less than two weeks after its previous peak of 1,083,981 active addresses. Bitcoin updated 2020’s highest in terms of active addresses. Bitcoin broke the 1 million milestone as it changed hands from the $ 9,300 level on November 27, 2017. The leading cryptocurrency by recent figures is not far from breaking the all-time high of 1,290,363 recorded on December 14, 2017. As technology researcher Kevin Rook points out, the Bitcoin network registered 1,120,216 active addresses on August 6, 2020.
The most recent surge in network usage was when BTC was racing to reach $ 12,000 again. The leading coin was brutally rejected at this price level on August 1. Much of this increased activity can possibly be attributed to individual investors, given that the number of wallets holding at least $ 10 worth of Bitcoin recently rose to an all-time high of 16.6 million. According to some experts, this could eventually lead BTC to its all-time high of $ 20,000.
Bitcoin whales losing power, according to CoinMetrics
According to CoinMetrics, Bitcoin whales are losing power, and investors with less than 100 BTC in their portfolio account for more than half of the cryptocurrency supply for the first time since April 2010. One of the key arguments of Bitcoin’s opponents is that there is speculation on the volatility of the single-use case of the best cryptocurrency by market cap. However, the fact that more than a million unique addresses are using Bitcoin shows that there is real-world adoption behind the scenes. Meanwhile, Ethereum, whose active addresses doubled in 2018, recently reached 626,000 daily active addresses, the highest level in two years.