Reputable market expert Ali Martinez recently noticed a strong association between Bitcoin’s price decline and a sharp increase of new Bitcoin (BTC) addresses in a tweet. This increase, seen on a chart Martinez published, has sparked a growing mood to “buy the dip” and may be a sign of a steady long-term advance for the top cryptocurrency.
Martinez’s sharp tweet described a clear discrepancy between the price at which Bitcoin is now trading and the rapidly increasing number of new BTC addresses. The total of these new addresses has displayed a remarkable rising trajectory despite a decline from $32,000 to $29,000, suggesting at the likelihood of a strong, long-lasting increase for the leading cryptocurrency in the world.
Martinez’s allegation is supported by a graphic showing the startling increase in new BTC holder addresses. The data shows an astounding growth of about 200,000, from 360,000 to 600,000. Notably, this increase in network expansion has coincided with a decline in the value of Bitcoin on the market, creating an intriguing dichotomy.
Such data-driven findings have a big impact on investor mood since the cryptocurrency market is still infamously volatile. The general agreement among market enthusiasts and industry professionals is that, despite price declines, the core principles of Bitcoin’s network expansion continue to open the door for a robust and successful future.
