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Author Topic: Adoption Has Reached a New All Time High  (Read 2335 times)
Raystonn
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October 02, 2014, 01:15:50 AM
 #1

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.

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jaredboice
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October 02, 2014, 01:23:10 AM
 #2

That is definitely bullish
Room101
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October 02, 2014, 01:24:20 AM
 #3

The relentless march of BTC adoption continues unabated.
hyphymikey
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October 02, 2014, 01:29:12 AM
 #4

The last ATH was in May and nothing happened.

Hopefully this time it's different.
Raystonn
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October 02, 2014, 01:31:14 AM
 #5

March, actually.  Gox interrupted progress there.
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October 02, 2014, 03:05:22 AM
 #6

The last ATH was in May and nothing happened.

Hopefully this time it's different.

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.
Room101
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October 02, 2014, 09:08:14 AM
 #7

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.
trader001
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October 02, 2014, 09:25:41 AM
 #8

Trend is still going down and will remain this way until some good news come a long.
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October 02, 2014, 09:34:46 AM
 #9

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.
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October 02, 2014, 10:09:23 AM
 #10

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.


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 Wink:

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=
sbrzol
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October 02, 2014, 10:18:34 AM
 #11

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 Wink
s.mouse
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October 02, 2014, 12:31:53 PM
 #12

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?
zeroday
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October 02, 2014, 12:51:23 PM
 #13

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

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October 02, 2014, 01:24:44 PM
 #14

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




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yayayo
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October 02, 2014, 01:29:16 PM
 #15

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

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!
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October 02, 2014, 02:14:41 PM
 #16

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's very good news, thanks. Hopefully we'll see price ATH in a few months.  Grin
hyphymikey
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October 02, 2014, 05:14:56 PM
 #17

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

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!

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?
jaredboice
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October 02, 2014, 05:54:38 PM
 #18

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

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!

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
mmortal03
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October 02, 2014, 05:54:44 PM
 #19

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.



It's now slightly below it, and doesn't show the high. The latest transactions must have dropped the average a bit.
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October 02, 2014, 06:02:00 PM
 #20

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

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