Quote from: 7788bitcoin on Today at 11:53:53 PM

Quote from: 8m_zk on Today at 01:53:41 PM

With 25 000 new bitcoin addresses created today and new money keep flowing into bitcoin market it's clear that bullish trend is very strong, but do you think creation of new addresses is a valid metric ? Creation of a new address doesn't automatically means that the user is new, I have many bitcoin addresses.

I have seen topics similar to this in the past citing creation of new wallet address means a big deal but in fact it has nothing to do with the bullish trend, when the price touched the bottom we might have the same number of wallets created to move the coins for the long term and we might be seeing users moving their coins expecting to dump according to the market situation and you can have any speculation that suits you Wink

.

Nothing to do with the bullish market, but this shows how people are getting onto the cryptocurrency market. We don't know whether the entire wallet gets into usage, but for sure the cryptocurrency community is widening with time. This can also be used as a source of speculation. As the market is reactive to any form of news associated with it, it could also make small impact.