Bitcoin Forum

[Xangle Briefing] Existing investors, not the newcomers, are responsible for Bitcoin & Ethereum ‘s recent bull run.
https://xangle.io/mainnet-stats

The price of Bitcoin and Ethereum increased in part due to the fear of the everlasting corona virus, as suggested by the increased transaction among existing investors. New addresses & active addresses in Bitcoin and Ethereum both declined. This is in contrary to the early stages of the virus, where active and new addresses all increased.

According to the crypto disclosure platform Xangle, Bitcoin’s number of on-chain new addresses & active addresses (24H) has decreased by 13.2%, 9.16% and 0.32M and 0.61M respectively. Ethereum’s on-chain new addresses & active addresses (24H) decreased by 15.89%, 6.51%, and 90,000, 0.36M respectively.

On the other hand, other on-chain activity indicators like volume, number of transactions, and transactions over 1M USD in Bitcoin & Ethereum have both increased. This shows that trading by the existing investors contributed to an increase the price.

Bitcoin’s on-chain volume and transactions over 1M USD (24H) each showed 6,670.92M USD and 1,233 transactions, with a 17.4% and 48.2% increase respectively. Over the same period, Ethereum’s on-chain volume and transactions over 1M USD showed 349.38M USD and 49 transactions, with a 40.68% and 68.97% increase respectively.

Lol I'd like some data to back this up. You pretty much concluded that increased transaction among existing investors = fear of corona virus. While I don't think that's the case, I'd like to be proven wrong.

How can the fear of a virus cause investors to either buy or sell bitcoins, it's difficult, even impossible to understand, there have and will always be speculations on this issue(rise/fall), but this one has no stronghold in my senses, except maybe if you can provide reasons to believe you. "Trading by existing investors" may have "increased"(believable) and also increased the price, but why "due to the fear of corona virus".

haha, that is nonsense. bitcoin price has been going up for over a year now and every other altcoin including ethereum has been struggling hard to stay afloat let alone rise up. recently we saw bitcoin start gaining some momentum which didn't last long that momentum followed by a stable price prepared the situation for a lot of  different shitcoins including ethereum to start pump and dumping as they always do during bitcoin price stability phases.

How on earth it is possible? Corona Virus has shown its prominent attack on only one province of China, and not worldwide!


On the contrary, these are showing an increase of 17.72% and 24.05% respectively for bitcoin.

Coronoa Virus started showing its true colors until recently, while the crypto prices are showing great progresses since the beginning of this year. Literally, they don't have a correlation!

It doesn't make sense for bitcoin prices to rise because of the fear of the corona virus, I also don't understand why you can say that existing investors must be responsible for the increase in bitcoin prices, as I know the increase in bitcoin prices is caused, because of bitcoin limitations, bitcoin halving is an important event in the bitcoin network that occurs every 4 years, this is also one of the most important factors contributing to the price of bitcoin ..

Isn't it obvious though, old and traditional holders will always buy bitcoin because they've seen that you can get a lot of profits from it.


Doesn't make sense though, the price of bitcoin have been increasing because we are still the bullish phase. Everyone wanted to get on board before we hit $100k. It has nothing to do with corona virus, investors and huge companies and institutions are looking for ways to hedge their wealth and bitcoin is the best option for now.