Crypto News

The activity of a bitcoin address weakens: Bitcoin threatens rollback

Researchers from the team Santiment admit that in the near future we can expect reduction in the price of bitcoin.

Cryptocurrency started this week with a test values above $12 000, however, on Tuesday, August 11, began its easing.

Today bitcoin is trading at $11 543, the market capitalization of the largest digital currency fell to $213,949 billion.

Analysts Santiment provided data, from which it follows that the number of active bitcoin addresses is reduced. We are talking about those purses that daily send or receive BTC.

The researchers argue that the dynamics of user activity of the bitcoin network has a strong influence on the value of the coin.

They said:

For example, in the first quarter of 2019 activity in the network was growing long before the market began to recover. The same applies to July 2019, when the weakening of the activity [of Internet users] were preceded by a decrease in the price [of bitcoin].

Team Santiment builds his forecast in August just on the basis of the above processes in cryptosphere. How significant would the pullback too early to say.

Analysts believe that if in the near future the number of active addresses in the network, BTC will not grow, by the end of August we can expect a tangible reduction in the cost of cryptocurrency.

Source:

coinspot.io

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