Bitcoin has made a significant impact in the cryptocurrency realm with its impressive price surge. BTC recently reached the $69,000 milestone, demonstrating its strength and resilience. The asset is experiencing a significant increase in price, leading several analysts to make predictions about its future trajectory and anticipate a new bull market for cryptocurrencies. CryptoQuant’s analyst Dan has provided a logical explanation, stating that the peak of the bull market has not yet been reached. The analyst believes that the peak of the bull market is still approaching, based on the active address index for Bitcoin. Also check out: Bitcoin March Madness: Prepare for Price Increases and Decreases. Origin: Reddit.

Could you please say that in other words? A well-known cryptocurrency analyst, Dan from CryptoQuant, has explained why we have not yet seen the full impact of the cryptocurrency market bull run. Dan emphasized the importance of Bitcoin active addresses in influencing the speed of the peak bull cycle momentum. He stated that the number of active addresses is a key factor in determining how many wallets are actively involved in trading. In simpler terms, we can use this indicator to forecast whether there will be a rise in new investors. The analyst observed that Dan was prompt to emphasize other significant perspectives.