Fundamental BTC indicators improve when the rate drops

After a noticeable upward trend at the beginning of the year, Bitcoin began to show a downward trend again, asas the cryptocurrency recorded a six-month low at the end of this week. On November 22, the main coin fell to a low of $6,968 before returning to trade just above $7,000.

The market downturn has led speculators toexperts and investors again began to reflect on the motives of the price movement. BKCM founder and CEO Brian Kelly does not consider this period to be a “long-term pullback,” adding that “this sale was an important minimum.” In his opinion, during the sale, the fundamental indicators of bitcoin improve:

“If you look at the basic principles underlying Bitcoin, you will see an increase in addresses, over the past 30 days it has amounted to about 5%.”

Kelly further explained the statement that “fundamentals improve with a sale.” He stated that cryptocurrencies work “like a social network”:

“When I look at addresses, let's think of them as the average monthly number of users on Facebook or Twitter. So their height — This is a positive thing."

Senior Commodity Strategist at BloombergIntelligence Mike McGlone also spoke about Bitcoin, adding that it is becoming more and more a "digital version of gold." At the same time, unlike altcoins, the main cryptocurrency receives real application.

“Bitcoin won the race.It is becoming digital gold, and many in the digital space now know about it… The Bitcoin market is showing maturity, futures are becoming more common, and Bakkt has made clear progress. For the first ten years, BTC showed explosive growth, and now it is also in a growth phase. However, it will soon be able to overcome the strong volatility.”

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