Bitcoin Active Addresses has Increased by 36.56% in the Past 3 Years.

• Bitcoin Active Addresses has increased by 36.56% in the past 3 years.
• This is as a result of increase in Bitcoin price.
• ??Investors are bullish with Bitcoin future price as recent data has indicated.

Data shows that Bitcoin active addresses has increased by 36.56% in the past three years. The number of active addresses is given by all the cryptocurrency addresses for a given crypto asset that had either received or sent out funds.

Bitcoin Active Addresses (Source: CryptoQuant )

The chart above shows that the number of Bitcoin (BTC) active addresses on October 14th, 2019 was 693,483. By the end of October 13th, 2022, the number of BTC active addresses has moved to 942,047. This represents a rise in value by 36.56%.

This rise in value from the chart could be seen to be associated with price changes in Bitcoin. The blue line chart indicates Bitcoin active addresses while the black line chart indicates the price of Bitcoin. During the periods when the price of bitcoin is on the rise, the active addresses rose to over 1.2 million when the price of Bitcoin was above $58,000 in Aoril 9th, 2021. However, the value has seen a drop since Bitcoin attained its present all-time high price of $68,789.63 in November 10th, 2021.

This shows that long-term investors are hodling and that the adoption of Bitcoin is on the rise in the past 3 years.