The American Football or be it trading markets it is always the numbers that speak volumes and stories.
And, numbers don’t lie but they show that the Bitcoin and Ethereum are hitting significantly both the technical and financial milestones. The charts are showing that cryptocurrency is pulling lot of investors into the market space from the conventional financial world.
Analysts predict that the crypto market will soon see a strong upward trend due to inflows of capital from the retails investors who are the first-time players in this market.
There is an increase in the new investors which is highlighted by the number of addresses holding over 1 BTC which is combined with the BTC’s price uptick. The new money enthusiasts and analysts read from the aggregator and charted that there is a sharp increase in the number of wallets that are holding more than 1 BTC.
Analyst feel that reading the data indicates daily active addresses that have matured currently as against the data from 2019 peak and also it is noted that the metric has traded upwards and reached levels which were never scaled since July last year.
Recently, the cryptobird, the known crypto analysts shared the chart that showed the data that the King coin is the robust and set to see the further upward trending in the coming days and weeks.
Here is a quick glimpse for you
We've just passed disbelief imo pic.twitter.com/oVn8u79rGW— CRYPTO₿IRB (@crypto_birb) August 9, 2020
It is interesting to see in spite of the impact of the pandemic and the recession the number of people who have sought to the new money is growing and people who are creating wallets are growing exponentially over the past few months.
As per the analysis, it was predicted that the rally stagnation would break in the mid $11,000s, however, the consolidated gains has the Bitcoins surged to $12000 mark and expected to kick start the jump towards $12.4k.