Despite recent struggles to hold monthly support, Bitcoin price metrics are showing positive signs for bulls. The leading cryptocurrency has faced resistance at the $19,200 level, with analysts watching closely to see if it can break through. However, on-chain data suggests that long-term holders are accumulating more BTC, indicating confidence in future price appreciation. Additionally, the number of active Bitcoin addresses has reached a 2-year high, signaling increased usage and adoption. While short-term volatility may continue, these metrics provide optimism for investors looking for signs of a potential rally. Stay tuned as the cryptocurrency market continues to see developments in the coming weeks.
The Defi FunFacts:
- Bitcoin was created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto.
- The maximum supply of Bitcoin is capped at 21 million coins, making it a deflationary currency.
- Bitcoin transactions are recorded on a public ledger called the blockchain, which is maintained by a network of computers known as miners.
- Bitcoin’s price has been highly volatile since its inception, with rapid price increases and sharp declines being common.
- Bitcoin is often referred to as "digital gold" due to its scarcity and store of value properties.
- Several major companies now accept Bitcoin as a form of payment, including Microsoft, PayPal, and Overstock.com.
- The first-ever Bitcoin transaction was made to purchase two pizzas for 10,000 BTC in 2010, which would now be worth millions of dollars.
- Bitcoin has spawned a large ecosystem of cryptocurrencies, with thousands of alternative coins (altcoins) now in existence.
I don’t own the rights to this content & no infringement intended, CREDIT: The Original Source: cointelegraph.com