Bitcoin Forum

The 7-day average of "Number of Unique Bitcoin Addresses Used" per day has reached a new all time high.
https://blockchain.info/charts/n-unique-addresses?showDataPoints=false&timespan=&show_header=true&daysAverageString=7&scale=0&address=

Bullish divergence.

That is definitely bullish

The relentless march of BTC adoption continues unabated.

The last ATH was in May and nothing happened.

Hopefully this time it's different.

March, actually.  Gox interrupted progress there.

I believe there was a peak back then, but it was no ATH in price because it was in the middle of the dip from the December peak.

Not every high in adoption is a high in price, but the price does strongly correlate. A new peak in adoption will likely lead to a new peak in price. Possibly a new ATH even. Especially if the adoption persists.

the previous peak was also an quick exponential rise from a much lower base. This time it has been a steady increase more in line with trend, not a quick peak.

Trend is still going down and will remain this way until some good news come a long.

We have had an almost total absence of any bad news with lots of great news for the last few months. Not sure what you are expecting?

In any case price leads sentiment. When the price turns so will the bullish sentiment magically return. When this big player(s) stops selling I suppose.

Monthly average even better:

https://blockchain.info/charts/n-unique-addresses?timespan=all&showDataPoints=false&daysAverageString=30&show_header=true&scale=0&address=

And quarterly average even more better ;):

https://blockchain.info/charts/n-unique-addresses?timespan=all&showDataPoints=false&daysAverageString=90&show_header=true&scale=0&address=

And the yearly average:

https://blockchain.info/charts/n-unique-addresses?timespan=all&showDataPoints=false&daysAverageString=360&show_header=true&scale=0&address=

so bullish that every other good "news" (circle = everybody can and will buy btc easily)  that we can cross todays lowest price soon

please tell these good "news" charts to the buyers too ;)

Interesting, but someone told me recently that roughly the same amount of btc is being traded every day as was a year ago. Is this true?

Is it adoption, or just mixing services become more popular ?

Sorry.... I only care about ATH in regards to price

Is there any indication that mixing services grow faster than other Bitcoin uses? I don't think so.

The news flow suggests that more and more businesses are accepting bitcoin. So it's reasonable to assume that Bitcoin is becoming more popular in general.

I agree with OP that price versus Bitcoin use shows a bullish divergence.

ya.ya.yo!

That's very good news, thanks. Hopefully we'll see price ATH in a few months.  ;D

What if the person who supposedly stole all the gox coins are mixing, causing the adoption rate to climb, and then selling on the exchanges, causing the price to go down?

That could be true.  But google searches for "how to buy bitcoin" is still at an all time high.  This has nothing to do with mixing services.  This is evidence of real demand

It's now slightly below it, and doesn't show the high. The latest transactions must have dropped the average a bit.

IMO, this is a metric worth measuring. More important than price I think.

I don't understand what good news you are looking for..? Read stories of last few months and you'll realize there aren't any bad news except the few that took place earlier this year and they made such an impact that the market hasn't recovered from that yet, and keeps going down and down..! but this will end eventually might take some time though. ..!

It's inverted! Good news just pushed the price lower, let's hope for bad news, ie:

- US and EU banning bitcoin as of October 15th
- Overstock, Paypal, Alibaba, Dell, Google, Yahoo, Apple declaring that bitcoin will never be used by them (simultaneous press releases on October 16th)
- Mark Karpeles being acquitted
- SilkRoad operators acquitted but the bitcoins being hold by USMS and wallets deleted.

It's not very revealing, could be whales creating a lot of addresses to distribute their wealth better for all we know.

It could be.  But this metric is for active addresses every day, not how many addresses exist in total.

We have seen so many bullish things lately but price has only went down so it's hard to believe things would change. I keep hoping and holding anyway.

I guess this metric would be easier to manipulate than the price, once it becomes widely tracked.

I think the Gox addresses are known, or at least many of them. Should coins move out of those wallets, we would probably hear about it.

I don't think the bad news from early 2014 is why we are in a downtrend still. I think it's because Adoption is not yet enough to match the sell pressure from all the new merchants and the miners. We are getting close, but not quite there yet. Maybe in a few months.

A few more months of depressed prices and all the speculators would have moved on. :)