Bitcoin: Created Address Trend Reversal Sparks Optimism
CryptoNewsTerminal Staff08 Aug, 2024
Bitcoin: Created Address Trend Reversal Sparks Optimism
IntoTheBlock, a leading blockchain analytics firm, has observed a notable reversal in the number of new addresses created on the Bitcoin network. Since November 2023, this metric had been declining, signaling reduced retail investor interest. However, recent weeks have witnessed a surge in new addresses, indicating a potential shift in sentiment. This reversal could signify a renewed appetite for Bitcoin among retail investors. If sustained, it may positively impact the cryptocurrency's price in the long term.