Today was another big day for bitcoin. After all, according to CoinMetrics.io, the number 1 cryptocurrency has once again hit more than 1 million active bitcoin addresses per day. The metric referred to as DAA (daily active addresses) indicates the unique “to” and “from” addresses that are used per day. The last time the daily active bitcoin addresses metric reached a number this high was at the beginning of the bull market of 2017/18.
This many bitcoin addresses are a big milestone
As mentioned above, the last time the milestone of 1 million active bitcoin addresses was breached was in November 2017. At the same time, the bull market started, with the bitcoin price rising to $20,000 before suddenly falling steeply starting in January. What followed was a bear market that lasted until early 2019.
When Kevin Rooke noticed the breakthrough on June 15, he took to Twitter and posted:
Is BTC getting ready for another bullrun?
The DAA metric shows that not only direct transfers to and from the individual crypto exchanges take place. That is because the number indicates how many actual, unique transactions were made in total.
And that is quite a few. More than 1 million transactions on the bitcoin blockchain show just how popular the currency currently is. However, the high number of bitcoin addresses only becomes meaningful when compared to large global brands.
Here’s the comparison to some of the biggest brands in the world:
Apple: 798,877 iPhones sold per day in 2017
Uber: 14 million trips per day
But it’s not only bitcoin that’s doing well at the moment. The general market seems to be recovering as well. Recently in May, the largest crypto exchanges in the world, Binance and Coinbase, have hit a new high for 2019.
Here the number of visitors in May of the two exchanges:
Binance received 1.37M visits per day (+ 16%)
Coinbase achieved 1.14M visits per day (+ 23%)
Where will the bitcoin price stand at the end of 2019?
Especially with bitcoin forecasts, the opinions of the experts are often split. While some go public with rather modest price predictions, others see the stars within reach.
Sonny Singh, COO of payment service provider Bitpay, sees the BTC price at $ 15,000- $ 20,000 by the end of 2019.
According to the bitcoin forecast of famous analyst Peter Brandt, the BTC price is currently heading towards $ 50,000. Keep in mind that this is the expert who had been right when predicting the all-time high and the subsequent price slide of bitcoin in 2017/18.
According to John McAfee, who is known for his optimism, with just a little more patience, the bitcoin price could even reach 1 million by the end of 2020.
You want to see more bitcoin price predictions to make up your own mind? Here you can find our bitcoin analysis for the near future with the most current bitcoin forecasts of the analysts.