The number of active Bitcoin users' addresses has falln to its lowest level

[stompix]

You are forgetting that the biggest number of on-chain transactions have always been coming from day-traders. And traders need volatility to make profit and bitcoin price has been stable most of the past ~3 months in the $30k range with very little movement.

Sorry but doesn't make sense, in the last two weeks, we have seen a lot of volatility, prices have rebounded from 30k to near 50k yet the number of transactions isn't picking up even a bit.

It is not just 2018 numbers, we have it every now and then. We saw it from Nov 2019 to Jan 2020 when price was stuck in $6k, then again in June to August 2020 when price wasn't able to break $10k and ....

Again, you're comparing periods of a bear market with the rally that's happening now?
And even if we do compare with those periods, we're down 50% comparing to those times.

In short this has very little to do with bitcoin usage.

In my opinion, it has a lot to do, basically, without traders, there are about 100 thousand people doing transactions a day, meaning usage is down the drain. No matter how you try to put it, that's the only reasonable explanation.
Fees are down, price is up, blocks are empty...what other conclusion can you draw from this that makes sense?

[ranochigo]

When a 5 sat/b could have got you into the next block for like 90% of the time during the last month, I doubt it's because of the fees.

Perhaps, though it is quite important to note that there are better alternatives as well. Fees almost always spike during bull runs, at least from previous experiences. I've no doubt that some of them are more reluctant to keep it out of their exchanges, you'll probably either miss the opportunity or pay a ton of fees.

Speaking about fees, I know LN has been experiencing quite a growth since then while having far lower fees. Might be a factor as well.

[maisao1991]

The number of active Bitcoin users' addresses has falln to its lowest level since April 2020
With the decline in the price of Bitcoin and the frustration of some investors of this cryptocurrency from setting new records, the number of active bitcoin users' addresses has fallen to its lowest level since April 2020, which is a serious alarm for this popular cryptocurrency. With a large proportion of new investors leaving the market after recent falls, the share of whales (large holders) of total Bitcoins has now reached new historical records.

Recently BTC price has rallied again but after days of severe BTC price decline, it is true that some big investors got bored and left BTC at that time, but this is not a warning move yet. . about the futures price of BTC, because if the price of BTC in this 4th quarter goes up then the big whales will have some confidence and come back. According to what BTC price has bounced back to $48k today and year-end future maybe it will reach $60k

[adzino]

The number of active Bitcoin users' addresses has falln to its lowest level since April 2020
With the decline in the price of Bitcoin and the frustration of some investors of this cryptocurrency from setting new records, the number of active bitcoin users' addresses has fallen to its lowest level since April 2020, which is a serious alarm for this popular cryptocurrency. With a large proportion of new investors leaving the market after recent falls, the share of whales (large holders) of total Bitcoins has now reached new historical records.

Just looking at the wallet addresses won't give you any clue on how many active bitcoin users are there. Most crypto currency activities take place in an exchange. So you have to look at the trade volumes too. Besides, less active wallet mean people are no longer willing to move their coins to an exchange to sell which means they are all probably holding right now. It's a good thing, isn't it? More holders, less seller, higher price.