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Bitcoin has set a remarkable record this weekend, surpassing its number of new daily addresses since 2017. This accomplishment has propelled the cryptocurrency to the second-highest ranking in its history.
IntoTheBlock, a prominent crypto analytics, tweeted that The surge in new daily addresses is a testament to Bitcoin’s enduring appeal and growing user base, signifying a renewed interest in the digital asset.
Bitcoin Bullish Signals On The Horizon
Delving into price analysis, the crypto community turned its attention to the insights of Jelle, a Long-term Crypto and stock Investor. In a tweet, Jelle reported that BTC is currently exhibiting strong bullish signals. These indicators include a Bullish Divergence and a Bullish MACD Cross, both occurring at a crucial support level. Jelle’s optimism starkly contrasts the prevailing bearish sentiment in the crypto space, offering a glimmer of hope for BTC investors.
#Bitcoin is locking bullish signs once again:
🟢 Bullish Divergence
🟢 Bullish MACD Cross
Both of these signs are happening at support, while my timeline gets more bearish by the day.
Where have I seen this before… pic.twitter.com/Ad5PjoWeRj
— Jelle (@CryptoJelleNL) September 11, 2023
On the other side of the spectrum, glassnode, a well-known blockchain analytics platform co-founded by 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰, shared their perspective on Bitcoin’s mid-term outlook. According to their assessment, the stage is set for Bitcoin to thrive in the coming months.
They predict that Bitcoin will find its bottom in mid-September, paving the way for a promising October. However, they caution that volatility persists in the market, and Bitcoin’s dominance over altcoins remains unchallenged. The risk signal remains elevated, and altcoins are struggling to gain ground against Bitcoin, suggesting an extended altcoin season may not be on the horizon.
Adding to the chorus of bullish sentiments, another analyst known as BACH offered a straightforward yet compelling insight via Twitter. BACH emphasized the significance of the monthly bullish MACD cross, a reliable indicator for confirming long-term bottoms and signaling the start of bullish trends. Their base case prediction of BTC reaching +100k in Q2 2024 has certainly caught the attention of many investors.
However, BTC’s recent achievement of the highest number of new daily addresses since 2017 has ignited excitement in the crypto world. It remains to be seen whether these optimistic forecasts will materialize, but for now, the crypto community is buzzing with optimism and anticipation.
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