2 November 2024
Bitcoin Active Addresses Hit Highest Since January 2018
The rising price of leading cryptocurrency by market capitalization has caused an increase in the active number of bitcoin addresses. November was the bullish month of 2020 for bitcoin. Bitcoin was up by more than 50 percent which led to an all-time high (ATH). November was the most profitable month of 2020 and as a result bitcoin addresses became active.
Glaassnode shared the information at an on-chain analytics platform, which showed the number of active Bitcoin addresses in November neared 19.6 million. It is the third-highest record since the history of Bitcoin. There is a slight difference in the second-highest level, which was recorded in January 2018, at 19.7 million. December 2017 records the highest point at 21.64 million active addresses.
The chart indicates the active Bitcoin addresses tend to increase when the cryptocurrency enters the bull market. Previously, it was high when BTC surged to the late price ATH.
From the past month, bitcoin is seen actively running and it is swimming in volatility as many people are panic-selling. PlanB, a Bitcoin analyst, had perfectly predicted the volatility and also added that Bitcoin is likely to come out with more price highs. Currently, bitcoin is trading at $19,253.25 on Coinmarketcap.
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