Bitcoin Adoption Accelerates – BTC Sees Massive Strength

It’s been just revealed that the Bitcoin adoption is accelerating, and the digital asset sees massive strength. Check out the latest reports about the king coin below.

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $28,655.

Market intelligence firm Glassnode says that the Bitcoin (BTC) network is showing a lot of strength in two key areas.

In a new analytics report, Glassnode finds Bitcoin transactions are reaching a level not seen since April 2021.

“The monthly average of transaction counts has hit 309.5k/day this week, which is the highest level since April 2021, and a significant break above the yearly average. Fewer than 12.2% of all days have seen more transaction activity for Bitcoin, a healthy sign.”

The analytics firm also said the fact that there are new users entering Bitcoin and the number is reaching more than 120,000 daily, a level only surpassed during the peaks of two previous bull runs.

“Using our advanced clustering algorithms, we can estimate the number of unique new entities operating on-chain as a best estimate for unique new users. This metric has reached 122,000 new entities/day, with just 10.2% of days seeing higher new user adoption rates, namely at the 2017 peak, and during the 2020-21 bull run.”

There are all kinds of predictions about the king coin that are getting more and more optimistic.

According to the latest reports, it seems that Peter Brandt says that Bitcoin (BTC) is not going to take very long to reach new all-time highs (ATHs).

Brandt, whose crypto reputation was made by calling Bitcoin’s 2017 collapse, is shooting down a prediction by pseudonymous crypto analyst Cheds that Bitcoin is unlikely to hit $50,000 within 90 days.

Stay tuned for more news and make sure to check out the latest reports about the price of BTC.