One of the parameters certainly interesting to analyze a project and a blockchain, is the daily activity of addresses and even Bitcoin does not escape this logic.
The activity of addresses tells us if there is actually movement on a project and to what extent, since more addresses correspond to a solid and decentralized project.
From this we can understand that, once the price of Bitcoin Up reaches a certain level, 2 different and opposing situations are triggered: on one side who starts to sell the asset after months that the price was too low; on the other side we have the new users who decide to buy this asset before it is too late and too expensive.
You can extract very interesting data by looking at the number of BTC addresses, which allows you to predict with a certain margin how the asset will evolve even on the price side.
We will then take the data provided by Santiment to see on the one hand the number of active addresses and on the other the price of the asset.
A very interesting data is the one reached a few days ago with a real record of 1.2 million active addresses per day, that is addresses that have made at least one transaction and therefore made a transaction or incoming or outgoing.
Interesting to note how in the last 6 months the number of active addresses has grown and this is even more evident since the price of the asset has touched the threshold of 10 thousand dollars: in fact, from the chart it can be noticed that below that threshold, the activity of the addresses did not exceed the million of activity.
Bitcoin as an investment
Bitcoin has now lost its main function of being primarily a payment system and is seen primarily as a store of value.
This makes Bitcoin a pure speculative asset, since the mentality has become to recover the asset as a form of investment to buy at low price and then sell as soon as it reaches interesting figures.
Let’s not forget that in the last period the price of the asset has increased a lot and it is very close to reach the record figures of 2017.