Well-researched bitcoin article by SeekingAlpha pointing out interesting data

[Apollo11SaturnV]

Well-researched bitcoin article by SeekingAlpha pointing out interesting data, definitely worth reading.
It was published yesterday and already has over a 100 comments.
https://seekingalpha.com/article/4242118-bitcoin-just-increased-position-another-33-percent
The research was done by Victor Dergunov, of Albright Investment Group.

Seeking Alpha is a popular website amongst stock traders, hedge funds, investment banks. This could be a sign of wallstreet showing interest in bitcoin once again.

[MakeMoneyBtc]

Yeah it's pretty crazy how during 6 months bitcoin has been moving only within 1000$ up or down. Everyone expects to see something big happening now, either an unexpected crash or a substantial growth. I'm leaning towards the growth and the reason for that is obvious, bitcoin has to go up because it's place is at +10.000$. It probably slept for so long to be prepared for the big change that is going to take place.

[bitfocus]

Really! they put a trial subscription link in the summery! but the article is very interesting and informative.

[jseverson]

Woah, pretty extensive read. One thing I noticed though, is the author seems to assume that blockchain.com wallets is the only one available for Bitcoin users:

Therefore, if 3 million active Bitcoin users represent about 17% of all Bitcoin owners, then the total number of Bitcoin owners around the world is only around 17.6 million.

(This suggests that nearly 50% of all blockchain wallets (accounts) are either “lost” due to lost keys, abandoned/unused, or can be attributed to multiple account holders).

Other than that, it does cite its (many) sources and should be a good read for people who want to know more about Bitcoin as an investment.

[stompix]

Woah, pretty extensive read. One thing I noticed though, is the author seems to assume that blockchain.com wallets is the only one available for Bitcoin users:

therefore, if 3 million active Bitcoin users represent about 17% of all Bitcoin owners, then the total number of Bitcoin owners around the world is only around 17.6 million.

He is quite right for that number of active users and I think it might be even an overstatement.

Let's say 3 million "active" bitcoin users, so that's at least 2 tx a month to qualify as active, it makes 6 million tx a month, 200k a day, that was the median for the last year.

And we have about 25 million addresses with a balance, since my two wallets have about 17 of those, it does fit.

[davis196]

Woah, pretty extensive read. One thing I noticed though, is the author seems to assume that blockchain.com wallets is the only one available for Bitcoin users:

Therefore, if 3 million active Bitcoin users represent about 17% of all Bitcoin owners, then the total number of Bitcoin owners around the world is only around 17.6 million.

(This suggests that nearly 50% of all blockchain wallets (accounts) are either “lost” due to lost keys, abandoned/unused, or can be attributed to multiple account holders).

Other than that, it does cite its (many) sources and should be a good read for people who want to know more about Bitcoin as an investment.

Can anybody verify that those numbers are legit?For me,it looks like the author is throwing a bunch of random numbers just like that.I partially agree that the active user vs. hodler ratio is somewhere around 17:83 or maybe 20:80.This explains why the bitcoin price isn't growing rapidly.

[omone1]

From what I can get from the article, it's either we are going into recovery, or a price reversal to a bottom might just come upon us going to the bottom. Relying on history is good, but bitcoin as it is, has too many determinant factors from SEC to scalability and other speculations. This is part of the speculation or predictions that may come true or false. I believe we are no longer far from adoption but mass adoption might still take sometime.

[jseverson]

He is quite right for that number of active users and I think it might be even an overstatement.

Let's say 3 million "active" bitcoin users, so that's at least 2 tx a month to qualify as active, it makes 6 million tx a month, 200k a day, that was the median for the last year.

And we have about 25 million addresses with a balance, since my two wallets have about 17 of those, it does fit.

Yeah, I don't actually dispute that, but this part just seemed like the author assumed all Bitcoin users use blockchain.info/com's wallet:

(This suggests that nearly 50% of all blockchain wallets (accounts) are either “lost” due to lost keys, abandoned/unused, or can be attributed to multiple account holders).

Can anybody verify that those numbers are legit?For me,it looks like the author is throwing a bunch of random numbers just like that.I partially agree that the active user vs. hodler ratio is somewhere around 17:83 or maybe 20:80.This explains why the bitcoin price isn't growing rapidly.

The author cited numbers from Chainanalysis, which seem to be generally trustworthy as far as their statistics go. Either way, due to the nature of Bitcoin, this is probably as close as we can get to accurate .

[wilburwilbur]

The notable statement that i read there is that the next bull market will take prices higher from current levels, not just that, notable above previous.
This really means something and there is a hope for the word HODL.

[kaisa]

Another important statement is that Bitcoin is not for everyone, so I think it's true that bitcoin in the future is not used as an instant payment for everyone but as a digital wealth asset for various companies or individuals. So bitcoin will only be traded like a commodity. if it continues it will not be forever valuable because the bitcoin network will only be manipulated by companies and institutions. Even so, I am still optimistic that there will be bitcoin developers in the future to change the bitcoin network more effectively for payments and easy to use for everyone.

[Kakmakr]

Well a lot of that optimism was squashed by the latest drop in the price.    People get all excited when there are a 5% increase in the price and they start yelling, "Bull run, Bull run" and this is all hype. One whale come in and drop a massive amount of coins onto exchanges and all the hype is killed in one or two large transactions. 

Let's stop over reacting to 5% increases in the price and just wait for the real Bull run to happen. <We waited 3 years for the 2017 Bull run, so why would it happen in 1 or 2 years now?> 

[Pedro12528]

Yeah it's pretty crazy how during 6 months bitcoin has been moving only within 1000$ up or down. Everyone expects to see something big happening now, either an unexpected crash or a substantial growth. I'm leaning towards the growth and the reason for that is obvious, bitcoin has to go up because it's place is at +10.000$. It probably slept for so long to be prepared for the big change that is going to take place.

So, we're all are waiting for the deep changes, hope, that you're right and market will become green again very soon.

[Apollo11SaturnV]

Woah, pretty extensive read. One thing I noticed though, is the author seems to assume that blockchain.com wallets is the only one available for Bitcoin users:

therefore, if 3 million active Bitcoin users represent about 17% of all Bitcoin owners, then the total number of Bitcoin owners around the world is only around 17.6 million.

He is quite right for that number of active users and I think it might be even an overstatement.

Let's say 3 million "active" bitcoin users, so that's at least 2 tx a month to qualify as active, it makes 6 million tx a month, 200k a day, that was the median for the last year.

And we have about 25 million addresses with a balance, since my two wallets have about 17 of those, it does fit.

Another good way to get an idea of active users is by checking the number of daily bitcoin transactions on the Blockchain website and also lookinh at the coinmarketcap website traffic check, things like that a little out the box lol but its actually very good for getting an understanding of the amount of current users.