Bloomberg senior analyst Mike McGlone is confident that Bitcoin volatility should continue to decline.as the asset behaves more like gold, showing a progressive increase in active Bitcoin addresses.
Analyzing data, McGlone notes surgedemand for the first cryptocurrency and confidently predicts its breakthrough up to $ 12,000. This will be facilitated by the growing interest in CME bitcoin futures as a signal for asset maturity and a positive price indicator and optimistic investor sentiment.
In addition, the achieved new two-year maximum of ETH-addresses interacting with BTC (1.07 million) guarantees a rapid increase in the price of BTC
“The number of active addresses that are keya signal of a decline in prices in 2018 and a recovery in 2019, suggests a value close to 12,000 US dollars, based on historical models. Reflecting wider adoption, the 30-day average of unique addresses from Coinmetrics exceeded last year’s peak. ”
The analyst added that the last time this indicator exceeded its last maximum, bitcoin rose from the “bear market”.
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