Bitcoin enters a phase of exponential growth, similar to the 2017 bull rally. So, closely correlated with the price of the Usage Index (usage index) is now confidently moving along the same trajectory as approximately two years ago.
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 experts are confident that this tool helps to make medium- and long-term predictions of the price of the first cryptocurrency.
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) May 27, 2019
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) May 27, 2019
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 .
Guppy indicator on the BTC chart confirms steady bullish trend
Guppy is a technical indicator with several moving averages, which identifies changes in trends by combining two groups of moving averages with different time periods. It combines short-term and long-term moving averages (a total of twelve).
Trader Josh Rager drew attention to this indicator on a Bitcoin chart, noting that the three-day Guppy finally changed to green:
$ BTC : 3-Day Super Guppy Flipped Green
The trend trend
While the 1-Day Guy can be a fake-outs, the 3-Day is a good signal for you.
The last time the 3D flipped green it up to 25 months uptrend pic.twitter.com/fHwPs2EtSE
– Josh Rager (@Josh_Rager) May 28, 2019
I have been waiting for this for several weeks to confirm the bullish trend. While 1-day Guppy can give out fake-outs, 3-day is a good signal to continue, and that recessions are buying.
The last time the 3-day change was green, it led to a 25-month uptrend. The last time this indicator fell into the green zone at the end of 2016, and this caused an uptrend that lasted more than two years.
Publication date 29.05.2019
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