Transaction activity on the Bitcoin network continues to break records. In a report from the Unfolded team usingCoinMetrics data shows that the number of Bitcoin addresses transacting daily has risen to 1.19 million, the highest since January 2018.
The researchers presented a graph that shows that the number of transactions on the blockchain has been steadily increasing during the so-called November BTC rally.
Let's remind the largest digital currency this monthdemonstrates very good performance. Today, November 22, the BTC rate is holding above the $ 18,500 level. Many analysts argue that there is a high probability of repeating the famous race of 2017, when Bitcoin reached $ 20,000 on some trading floors.
The so-called «Fear Index andgreed» last Friday reached its highest level since June 2019, when the cryptocurrency was trading at $14,000. This figure was 94 points.
This trend indicates that investors are afraid of missing out on the benefits of the current market situation, so purchases are likely to increase.
Skew team analysts are also optimistic. According to them, the chances of reaching $20,000 this year are about 25%.
Probability of #bitcoin > $20k at year-end = 25% according to the options market pic.twitter.com/PD5JHfSQYX
- skew (@skewdotcom) November 19, 2020
In October, the probability of repeating the racethree years ago was only 7%. Amid the influx of capital into Bitcoin, miners also became more active. The network hashrate as of November 22 exceeds 130 exahash per second (EH/s).
5
/
5
(
1
voice
)
Read this:
The number of bitcoin investors with a balance of more than 1000 BTC peaked in 3 years
The number of bitcoin whales has reached a record level
The number of bitcoin whales is growing
The number of bitcoin wallets reaches an all-time high
Tool for determining “anonymity level” bitcoin transactions
The correlation between the S&P 500 index and BTC has reached its maximum level