An increase in the activity of investors can be called a sign of a revival of confidence in cryptocurrency, which can cause rally by the end of the year, analysts say.
The behavior of retail players serves as an important barometer of mood in the market. Coming to it, they form positive feedback and enhance the pressure of customers. The demand metric associated with them increased by 3.4% from April 28 to May 13, they indicated in Cryptoquant.
If the bull trend is preserved, the prerequisites for the next wave of Bitcoin can be created. In the short term, an increase in the number of active addresses and the volume of transfers on the network is expected to increase, which will allow the first cryptocurrency ecosystem to continue to expand, experts explained.
Earlier, K33 Research experts said that, unlike the last jumps in the first cryptocurrency course, the current cycle is not associated with risks from derivatives, which creates the basis for a long -term growth of the coin.
Source: Bits
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