Topic: Bitcoins Price and Network Activity Edging Each Other (Read 91 times)
I have no ideas with this OP, he creates many threads and all of them goes to crypofish.com which is a place to buy bitcoin and ethereum. The main idea of this OP is sharing many articles but at the same time promoting cryptofish. He did not even share his opinion or at least a question related to the article.
I think demand and supply theory is applicable in this topic. Yes bitcoin price and network activity edging each other. Like what happened on past few days. Many bitcoiners are invest in bitcoin so bitcoin's price was increase. I think this was an effect on the extended and more function of bitcoin today.
At the beginning it was always intended that Bitcoin’s user growth and price should move in tandem. Lately this has proven to not be the case as the price has been left in the dust by the user growth over the last eight weeks.
Defining user growth with the number of wallets is a bit naive. You don't know how many people actually use crypto actively, and one person can have more than 10 address. I think determining how many people are actively participating in the crypto ecosystem by looking at the number of active trades in exchange is better than looking at how many addresses were created/has transaction history.
first of all you are trying so hard to find a relationship where there is none. the fact that some addresses aren't used for long time it doesn't mean they are holding. there has been a lot of spam attacks against bitcoin of the type where they create lots of new outputs (send coin to addresses) these are not yet consolidated and many of them are staying dormant probably for next spam attack wave so a big part of the unused addresses can be because of that.
secondly you are following that up with a false assumption that the network activity is affecting the price while it is exactly the opposite. meaning the price affects the activity. for example when price went up fast a couple of days ago, afterwards the network activity increased. and when price became stable then afterwards the activity decreased. meaning price is affecting the activity not the other way around!
secondly you are following that up with a false assumption that the network activity is affecting the price while it is exactly the opposite. meaning the price affects the activity. for example when price went up fast a couple of days ago, afterwards the network activity increased. and when price became stable then afterwards the activity decreased. meaning price is affecting the activity not the other way around!
Peoples are looking for other coins too. Since there's not only bitcoin who can gives you profit by increasing its price. You should not forget after bitcoin there's an other coin named "Ethereum". Mostly peoples are investing there too. Also alt coins are good too for trading. Bitcoin is not everything there's some other coins available and you should try them too
At the beginning it was always intended that Bitcoin’s user growth and price should move in tandem. Lately this has proven to not be the case as the price has been left in the dust by the user growth over the last eight weeks.
Read more here: https://www.cryptofish.com/blog/bitcoins-price-and-network-activity/
Read more here: https://www.cryptofish.com/blog/bitcoins-price-and-network-activity/
Maybe it is because as more and more people adapt, use, or invest in bitcoin and cryptocurrency, people started exploring the potential of other coins that is why other opt to use their bitcoin to hodl and invest in other altcoins to diversify their investment and opportunity. Take note that as time goes by it is not only bitcoin that is capturing the eye of investors, but also other altcoins which could bring investors good income potential in the long-run. Peoplr had become selective when it comes to crypto investment, they had learned to try and risk investing since there are already a lot of options. Leaving bitcoin to many holders and at smaller price diverse to what you have said how it was intended at the beginning.
At the beginning it was always intended that Bitcoin’s user growth and price should move in tandem. Lately this has proven to not be the case as the price has been left in the dust by the user growth over the last eight weeks.
Read more here: https://www.cryptofish.com/blog/bitcoins-price-and-network-activity/
Read more here: https://www.cryptofish.com/blog/bitcoins-price-and-network-activity/
Jump to: