Thread by @CryptoKea

1/ Is #Bitcoin on track with respect to its latest growth cycle? Daily Active Addresses suggest, we just lifted off from a long-term growth phase support which started end of 2013. This looks quite bullish.

Let´s dive in a bit deeper. 👇

2/ 2 years ago, the low in Daily Active Addresses (DAA) was hit in the latest cycle (DAA is the number of unique addresses active as a sender or receiver on a daily basis). Price followed suit 8 months later at a low of $3.1k. Ever since then we had higher and higher lows in DAA

3/ which translates into a steadily growing user base/interest. But how does this translate to user growth over #BTC's history? As we can see we are back on track of where the latest growth cycle started end of 2013. It also shows what an extraordinary growth we had in 2016-17 to

4/ which support we came back to beginning of 2018.

As Metcalf´s law states: “The effects of a network is proportional to the square of the number of connected users of the system”, suggesting that the continuous growth in DAA could be a very relevant and positive development

5/ metric to Bitcoin´s future value growth. The most recent jump in DAA is a positive signal, even though it does not provide too much insight into short-term price movements. If one wanted to take a closer look at support and resistance of DAA and price movements which coincided

6/ with it since 2018, it could eventually be interpreted as seen here. I personally expect support to hold, while resistance will highly likely be broken for good within next 12 months, providing upwards pressure on price through a growing network value (see Metcalf´s law).

7/ The long-term upwards trajectory of DAA is what matters the most as it provides sustainable upside pressure to price and this looks very healthy and bullish to me.

Onwards & Upwards #Bitcoin🐂🚀😎