In-depth trading ideas
#Bitcoin / #Bitcoin Active Addresses. / Tether DominanceBitcoin Price is at the bottom and somewhat continues to recover.
Bitcoin Addresses are close to previous ATH.
Tether Dominance at ATH.
The divergence between them is that, Active Addresses picks up, but Tether Dom. needs to come down.
Bitcoin needs the last catalyst to make a run for the Tether Dom to come down and people start Speculating / Investing.
#Bitcoin / #Bitcoin Active Addresses. BTC Actives Addresses continue to go up (Sending and Receiving)
The Addresses are near 2018 high and continues to go up on a monthly basis.
The period from 2014-Now shows that Active addresses takes a dip, recovers over 1-3 years, and prices evt. picks up.
What is interesting is that Active addresses are at the same high as 2017 Bull Run. 2021. Bull Run. However for 2023 price is recovering but Active Addresses are already at near highs.
On Chain Analysis using glassnodeThis is a quick description for using the Bitcoins Active Addresses from glass node.
This chart is typically not something that makes much sense as it jumps back and forth with a-lot of volatility.
However, apply a 14 Day SMA and you can get idea of the average of all the noise.
I will explain briefly what the noise could mean.
The number of unique addresses that were active in the network either as a sender or receiver. Only addresses that were active in successful transactions are counted.
First Layer On-chain Analysis: BTC DAA
What are Bitcoin Daily Active Addresses?
When you set up a Bitcoin wallet (or a wallet for other cryptocurrencies), your wallet gets a unique address assignment. This address is vital to ensure the sender sends their cryptocurrency to the intended recipient. A typical crypto wallet address contains a combination of alphanumeric characters – in other words, a combination of words and letters. Usually, the address is between 26 and 35 characters long, and it can be represented by a QR code.
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