RATE Group | Bitcoin (BTC) Sees Sudden Spike in Newly Creates Addresses
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Bitcoin (BTC) Sees Sudden Spike in Newly Creates Addresses

08 Feb Bitcoin (BTC) Sees Sudden Spike in Newly Creates Addresses

Posted at 02:15h in Bitcoin News by

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Contents

  • New price highs, new addresses 
  • 500 mln confirmed transactions

Bitcoin has recently experienced a sudden uptick in new non-zero addresses, its biggest one since April’s rally.


The leading cryptocurrency is attracting more users after its price gained more than 30 percent this January.


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New price highs, new addresses 


According to Glassnode data, the number of new addresses created over a seven-day period surpassed 400,000. This coincided with the BTC price creeping closer to the $10,000 level. 


The chart below shows that there is a clear correlation between the number of new addresses and Bitcoin’s price action. The rapid growth of wallets came before Bitcoin’s $13,888 peak in June, which ignited retail interest.


When the BTC price took a huge hit in December, it…

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