According to experts DataLight, Bitcoin will soon enter a phase of exponential growth, by analogy with the bull rally in 2017.
So, closely correlated with the price, the Usage Index is now confidently moving along the same trajectory as approximately two years ago.
The metric you should always be able to predict #Bitcoin price: Usage Index by DataLight.
Usage Index is currently repeating what was before. This metric indicates a strong correlation with the $ BTC price. https://t.co/lRr6WsEAyh pic.twitter.com/C7WBVrHp1O
– DataLight (@DataLightMe) 27 of May 2019 p.
The “usage index” is a metric that indicates the level of blockchain activity. It is calculated by producing the active addresses by the number of transactions. DataLight is confident that this tool helps to make medium- and long-term forecasts of the price of the first cryptocurrency.
Partner of the venture capital firm Castle Island Island Ventures Nick Carter noticed a tendency to increase the number of active Bitcoin addresses.
New ATH ? (In addresses holding at least 0.1 BTC) pic.twitter.com/waXAptr40E
– nic carter (@nic__carter) 27 May 2019 p.
According to Carter's observations, the number of addresses with a balance of more than 0.1 BTC reached a historical maximum.
Earlier, researchers DataLight revealed a close correlation between the price of Bitcoin and the complexity of mining.
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