BeInCrypto –

In this article, BeInCrypto looks at on-chain bitcoin indicators like the number of transactions and address count. This is done in order to compare patterns with prior market cycles.

The number of BTC transactions is increasing but is still disproportionate compared to the price increase. On the other hand, the number of addresses with a non-zero balance is approaching a new all-time high.

Number of BTC transactions

The number of BTC transactions has not always increased alongside the BTC price. While transactions reached an all-time high of 406,953 in December 2017, the BTC price reached its current all-time high in April 2021.

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