Senior analyst at Bloomberg Mike McGlone, is sure that the volatility of bitcoin will continue to decline because recently there has been a progressive increase in number of active bitcoin addresses.
Analyzing the data, McGlone notes a surge of demand for the first bitcoin and confidently predicts its breakout to $12,000. This will contribute to the growing interest in bitcoin futures on CME as a signal of the maturation of assets and a positive indicator of price and optimistic investor sentiment.
Also made a new two-year high of ETH addresses interacting with BTC (1.07 million), guarantees a fast increase of BTC price
“The number of active addresses, which is a key signal of decline in prices in 2018 and recovery in 2019, assumes a value close to 12 000 US dollars, based on historical models. Reflecting wider acceptance, the 30-day average number of unique addresses from Coinmetrics exceeded last year’s peak.”
The analyst added that the last time this was higher than its last high, bitcoin has risen from a “bear market”.
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