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BTC Price up by 50% This Year But Not Yet in a Bull Market

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According to reports, market analysis pointed out that although the BTC price has risen by nearly 50% so far this year, both the on-chain trading volume and th…

BTC Price up by 50% This Year But Not Yet in a Bull Market

According to reports, market analysis pointed out that although the BTC price has risen by nearly 50% so far this year, both the on-chain trading volume and the increase of active addresses lack the characteristics of bull market.

Viewpoint: BTC’s online trading volume and active address are short of bull market characteristics

Interpret the above information:


The market analysis indicates that despite a 50% price increase in Bitcoin (BTC), the leading cryptocurrency, so far this year, BTC is not yet in a bull market. Two key indicators to determine whether BTC is in a bull market or not are the on-chain trading volume and the increase of active addresses. The analysis suggests that both these indicators are missing the essential characteristics of a bull market.

On-chain trading volume refers to the total BTC value that is transferred on the BTC network in a given period. It is a measure of the transactional activity on the network. Increase in active addresses indicates the number of unique wallet addresses that are actively sending or receiving BTC. An increase in the number of active addresses signifies the growth in the BTC user base.

Despite the impressive price increase, the on-chain trading volume and active addresses show that BTC is not yet experiencing a bull market. When BTC enters a bull market, these indicators show a significant increase as more users trade BTC, and the number of active BTC addresses rises. According to the analysis, this is not currently the case, meaning that the recent BTC price increase is not being driven by increased demand.

The analysis suggests that the recent BTC price increase might be due to several other factors, such as institutional investors entering the market or increased demand in geographic areas that are experiencing economic instability. Further analysis is necessary to confirm this hypothesis.

In conclusion, the recent price increase of BTC does not necessarily mean that BTC is in a bull market. The on-chain trading volume and the rise of active addresses are essential indicators that show the real user demand and usage of BTC. Further analysis would be necessary to determine if BTC is indeed heading into a bull market or if other factors have contributed to the recent price hike.

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