25k new Bitcoin addresses in 1 hour

[7788bitcoin]

With 25 000 new bitcoin addresses created today and new money keep flowing into bitcoin market it's clear that bullish trend is very strong, but do you think creation of new addresses is a valid metric ? Creation of a new address doesn't automatically means that the user is new, I have many bitcoin addresses.

I have seen topics similar to this in the past citing creation of new wallet address means a big deal but in fact it has nothing to do with the bullish trend, when the price touched the bottom we might have the same number of wallets created to move the coins for the long term and we might be seeing users moving their coins expecting to dump according to the market situation and you can have any speculation that suits you  .

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[AjithBtc]

With 25 000 new bitcoin addresses created today and new money keep flowing into bitcoin market it's clear that bullish trend is very strong, but do you think creation of new addresses is a valid metric ? Creation of a new address doesn't automatically means that the user is new, I have many bitcoin addresses.

I have seen topics similar to this in the past citing creation of new wallet address means a big deal but in fact it has nothing to do with the bullish trend, when the price touched the bottom we might have the same number of wallets created to move the coins for the long term and we might be seeing users moving their coins expecting to dump according to the market situation and you can have any speculation that suits you  .

Nothing to do with the bullish market, but this shows how people are getting onto the cryptocurrency market. We don't know whether the entire wallet gets into usage, but for sure the cryptocurrency community is widening with time. This can also be used as a source of speculation. As the market is reactive to any form of news associated with it, it could also make small impact.

[Rengga Jati]

It depends on what's for the new wallet. Is the person generating the wallet for their contemporary asset by a few people or it is exactly generated by new comer who wants to invest in Bitcoin? Or lets we say if around 40% are coming as new investors of BTC, it will give a positive impact. But if it is only the usual generation for temporary wallets, I think it may not give many effects.

[hd49728]

In a wallet, you will have a default list of receiving address (receiving and change address in Electrum wallet). You can create more address that exceed the default list but you can also never use those addresses you create. All addresses you create with wallet software is bonded with the seed of that wallet.

25k new bitcoin addresses were created in 1 hour but how about number of addresses have bitcoin inside? And how much bitcoin was stored in each addresses? 25k addresses can do dust attacks if they want like Roger Ver and his teammates did in 2017 to manipulate bad news on bitcoin network, congestion, high fees and the end try to convince people that BCH is a real bitcoin and a future of crypto currency.

Forget the article and never mind about it.

[stompix]

25k new bitcoin addresses were created in 1 hour but how about number of addresses have bitcoin inside?

All of them!
You can't count addresses that have no incoming or outgoing transactions from as there is simply no entry in the blockchain for them.
For example, I can generate millions of new addresses right now with a simple program and hundreds like me could do the same but those can't be counted by anybody as they are not registered anywhere. How would you know if 1HBjryUR9G18srFh9tWXJusxpXmqYuWqeh is actually owned by somebody or not?

Glassnodes sees those as:

the number of unique addresses that appeared for the first time in a transaction of the native coin in the network.

There are hundreds of thousands of them each day, but there was an unusual spike yesterday, you can see this one other graphs,but most of them only show daily values so that unusual hour gets buried between others.

[shoreno]

why do you have many addresses @op what are you going to do with that or do you hide something from us ? hmm . i dont feel the need of creating a new bitcoin address because i dont hide anything and im only one user . the reason why there are so many address is because there are new users that joins btc . the btc bull and the btc in paypal can be the caused for those people to sign up and get btc address imediately . they wont create a btc wallet for display or to stare at it the whole day but they do want to fill that with a btc asap . we can expect more pumps in the coming days , nice .

[target]

How much BTC address was created every hour 4 years ago, do we have this data too?

If the number is different like low than 25K, there must be a massive creation due to adoption and users generating every time. Wallets can create hundreds of addresses though and we can generate one every transaction. Although not every address is going to be used, 25k is still is a lot.

[abderrazak belkhir]

I think that a new adress doesn't mean a new user because there is many wallets that give you the ability to fenerate a new adress when you want and without any limite to help people in their security

[Warkop]

When you see a new Bitcoin wallet address, it doesn't mean that many new users have logged in using Bitcoin, but most people who have been holding Bitcoin for a long time are recreating new Bitcoin addresses to put their Bitcoin on multiple wallet addresses, maybe they don't want to keep it in one wallet address. Because then they will not be able to lose all the Bitcoin they have.

[Ridwan Fauzi]

With 25 000 new bitcoin addresses created today and new money keep flowing into bitcoin market it's clear that bullish trend is very strong, but do you think creation of new addresses is a valid metric ? Creation of a new address doesn't automatically means that the user is new, I have many bitcoin addresses.

The new address must be accompanied by an increase in the price of bitcoin, maybe it is valid because bitcoin is still increasing and trying to recover from yesterday's correction. We still have one more information that could make the bitcoin price pass its all time high, yeah we still wait for the stimulus from the US government because if this happens there will be many people who will buy bitcoin like has happened in March.

[Maslate]

No. Most people have way more than just "a few" Bitcoin addresses, they are only considered "generated" when they have funds being sent to them which is not a valid metric by any means; most people use change addresses which are also newly generated. It's nothing indicative of the adoption rate.

I agree with this, even me, I can generate 100 wallet address in 1 day or more using different wallets, so it's not really a metrics to say that the market is already in bullish more or in FOMO mode, though it's bullish but I'm not yet convince it will continue, maybe until we reach $19k which is a very interesting figure as it's close to bitcoin's ATH already.

[GeorgeJohn]

With 25 000 new bitcoin addresses created today and new money keep flowing into bitcoin market it's clear that bullish trend is very strong, but do you think creation of new addresses is a valid metric ? Creation of a new address doesn't automatically means that the user is new, I have many bitcoin addresses.

Really having a fresh account does not grant or specified that someone is new, because one person can have several accounts and still pretending to be novice in all, I think I really agree with you in the aspect of creation of bitcoin account  to be much as you wants, and I think having multiple accounts don't really have any effects.

[Krislaw]

No. It doesn't really validate the inflow of new users. Some wallet users would prefer splitting their coins into different address because it's easy to create wallet without having to perform any verification, all that is needed is just storing your private keys.
The only way to validate those address is to know if there are coins in them. If there is coins in huge percentage, then it's a bullish sign for us.

[Gotumoot]

No. It doesn't really validate the inflow of new users. Some wallet users would prefer splitting their coins into different address because it's easy to create wallet without having to perform any verification, all that is needed is just storing your private keys.
The only way to validate those address is to know if there are coins in them. If there is coins in huge percentage, then it's a bullish sign for us.

I agree with it we couldn't tell how many of those new create wallets are really made by a new investors?
But I think we are really having a huge amount of fresh money and it is getting the price higher we are already near the current ATH after almost 3 years.

[bitbollo]

With 25 000 new bitcoin addresses created today and new money keep flowing into bitcoin market it's clear that bullish trend is very strong, but do you think creation of new addresses is a valid metric ? Creation of a new address doesn't automatically means that the user is new, I have many bitcoin addresses.

not this is not a valid metric, since most of bitcoin user create new address when they should receive a payment.
a good instrument could be "how many addresses own at a certain amount of coin in a specific timeframe" since a certain level it means more people are joining the network.
but even this isn't the best metric since various addresses could belong to the same ownership.

[AakZaki]

~snip~
But if it is only the usual generation for temporary wallets, I think it may not give many effects.

I think this is good, whether it is a wallet on an exchange or a standalone wallet, or etc. It means that the development of transactions and the need for wallets is quite large. Whether the wallet contains or not is at least positive news and I think the number will be even more. Maybe if you look at the details about the contents you can do one by one but this is very long, you can also open here to find out the amount of their balance.

[Ludmilla_rose1995]

With 25 000 new bitcoin addresses created today and new money keep flowing into bitcoin market it's clear that bullish trend is very strong, but do you think creation of new addresses is a valid metric ? Creation of a new address doesn't automatically means that the user is new, I have many bitcoin addresses.

Creating a new wallet address does not mean there are new investors. I have multiple wallet addresses to move some of the assets I have for security. What I mean is, if one of the wallet addresses has a problem (such as a hacker attack) I still have crypto assets that are still stored in a different address.