Despite the 80% rise, data shows that the Bitcoin bull run has just begun! Famous data provider Glassnode announced the emergence of an important bull indicator!
Despite the rise, data shows that the Bitcoin bull run is just beginning!
Last week, BTC rose to $ 7,770 on some exchanges, making a strong comeback and dropped to $ 6,700. The crypto king is now changing hands at $ 7,000. With this price, BTC is listed at a price of 80% higher than the $ 4,000 band it fell in March.
Although Bitcoin has experienced a rally where it has gained 80% value in the past month, some indicators suggest that the run has just begun.
According to data shared by leading crypto metric data provider Glassnode, there was a strong increase in the number of new daily people traded on the Bitcoin network on April 15. This increase also occurred before the 2019 bull run and subsequently Bitcoin signed a rally that reached $ 14,000.
“As global markets are exposed to more uncertainty, interest in Bitcoin is also increasing.
The number of new traders on the Bitcoin network has risen to a higher level than it has been for more than a year. ”
This is not the only positive sign!
The only positive sign in the Bitcoin market is not the sheer number of new people entering the market. According to data from Skew.com, the USDT value, which was 4.5 billion dollars at the beginning of March, increased by 2.2 billion dollars to 6.7 billion dollars.
In the post, digital asset manager Charles Edwards highlighted that big changes in Tether's market value had a significant impact on Bitcoin price movements in the past 1.5 years, pointing to a possible BTC bull run.
“The big changes in Tether's market value led Bitcoin's price in the past year. We saw the closest example on January 5th and now we are in such an area. There is a healthy signal. ”
Let's see if these signals will be able to trigger the Bitcoin bull run? Stay tuned for breaking news and stunning evaluations from the cryptocurrency industry. Stay at home for as long as possible, stay healthy.
