Former Bloomberg Intelligence analyst Jamie Coutts, an important figure in the cryptocurrency world, stated that there is a notable difference between the decline periods of Bitcoin (BTC) between 2018 and 2022, and offered a positive perspective on the future of the market. The key metric Coutts highlights is BTC accumulation addresses that show changes in Bitcoin’s performance – that is, addresses that buy twice and never sell.
According to analysis, there will be a significant increase in the number of these savings addresses in the bear market in 2022. has been observed. However, during the collapse of the Bitcoin market in 2018, it was determined that there was a decrease in the number of such addresses.
These data show that trust and belief in Bitcoin increases in 2022. In particular, the increase in accumulation addresses shows that investors are adopting a strategy to not only hold Bitcoin but also accumulate more of it. This can be considered as an indicator of belief in the long-term potential of Bitcoin.
Jamie Coutts made the following statement on the subject:
“No one of these Bitcoin bear markets is like the other.
Accumulation addresses (buying twice and never selling):
NEWS CONTINUES BELOW2018: -20%
2022: +60%
Belief.”
Bitcoin is trading at $38,801, up 1.03% in the last 24 hours. Another change Coutts points out is that over the last few years, there has been a huge increase in daily active users (DAUs), which are the number of unique addresses transacting on a blockchain each day:
“Daily crypto active users in tier-1s/tier-2s: 2019: 200,000 2023: 5,000,000 Four-year CAGR (compound annual growth rate): 123%. Let’s see where this goes.”
Coutts predicts that artificial intelligence (AI) technology will accelerate the adoption of cryptocurrencies and help DAU grow to approximately 400 million by 2030.
“As the technology becomes steadily embedded in the fabric of our digital age, several key drivers are coming together behind the rapid increase in blockchain adoption. “The role that artificial intelligence will play in the future of blockchain will be an important factor in this adoption process.”
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