Bitcoin Trend is Just Getting Started, Claims Analyst

Bitcoin price has continued to grow higher in recent times. Bitcoin price is likely to rise in the near future. With its style of growth, one could predict that the actual Bitcoin adoption will still maintain its steady value for a longer time.

One of the top Cryptocurrency market researchers suggests that the current uptrend of Bitcoin value is far away from being concluded. 

Bitcoin Adoption

Since the Bitcoin price continued to increase in recent times, it has captured the attention of people on social media and other platforms. 

As a result of this growth, cryptocurrency has continued to make trend and headlines across all platforms. This trend has caught the attention of new users to invest in crypto products. Although Bitcoin has not attained its user growth rate as seen in the last peak, its recent uptrend is the most powerful trend since it came into existence.

Willy Woo, a crypto analyst and Bitcoin researcher, shared data from glassnode to show the 365-day new growth of average Bitcoin users. From this data, one could discover that recent new users have not reached the number of registered users in 2017. 

However, the current user adoption may surpass the previous peak. But, the rate at which new users come into the technology is a sign that more time is needed in order to break the previous record.

The Recent Adoption Rate of Bitcoin is a Sign that Trend is Just Getting Started 

With the way new users invest in cryptocurrency, Woo watched the market before suggesting that new users will attain the former growth rate and surpass it. 

As a result of this assumption, the expert claimed that the Bitcoin market is just getting more heightened. Woo’s analysis in January has shown that the second-stage of the crypto market uptrend has started.

The analysis shows that the public participation stage can stay for a while. A lot of people have been looking up to the future of cryptocurrencies. Since the value of Bitcoin surpasses $50,000 in recent time, following Woo’s claim, one could suggest that the leading cryptocurrency market cap may be priced at $100,000 or more price per coin.

Leave a Reply

Your email address will not be published. Required fields are marked *