Bitcoin’s Bear Market in 2022 Showed a Key Difference from 2018, Says Analyst Jamie Coutts
Former Bloomberg Intelligence analyst Jamie Coutts has pointed out a significant difference between Bitcoin’s bearish periods in 2018 and 2022. According to Coutts, the number of BTC accumulation addresses increased during the 2022 bear market, while they decreased in the 2018 slump. This rise in accumulation addresses suggests a stronger belief in the future of Bitcoin.
Another significant difference highlighted by Coutts is the massive increase in daily active users (DAUs) in the crypto space. DAUs represent the number of unique addresses transacting on a blockchain each day. Coutts predicts that with the help of artificial intelligence (AI) technology, DAUs could reach nearly 400 million by 2030.
Hot Take: The Evolution of Bitcoin’s Bear Markets and Crypto Adoption
The comparison between Bitcoin’s bear markets in 2018 and 2022 highlights an important shift in investor sentiment and confidence. The increase in BTC accumulation addresses during the 2022 bear market indicates a stronger belief in the future potential of Bitcoin. This suggests that despite temporary price declines, more investors are accumulating Bitcoin with a long-term perspective.
Additionally, the significant growth in daily active users (DAUs) within the crypto space showcases the increasing adoption and integration of blockchain technology. With the potential influence of artificial intelligence (AI), DAUs could soar to nearly 400 million by 2030. These trends reflect a positive outlook for Bitcoin and the broader cryptocurrency market as they continue to evolve and gain mainstream acceptance.
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