CandleFocus Bitcoin’s Network Fundamentals Turn Bullish—Here Are The Details
2024-10-24
Author: Content Editor
A CryptoQuant analyst named Mac.D has noticed significant shifts in Bitcoin's network fundamentals. The hashrate has reached an all-time high, indicating intensified competition among miners and driving up mining difficulty. This reflects Bitcoin's growing intrinsic value and makes it more attractive for long-term investors. The number of active Bitcoin addresses has also been steadily rising, showing greater engagement with the network. Additionally, the total network fees have increased due to a spike in on-chain transactions, which is typical during bullish periods. These positive network fundamentals suggest a strong likelihood of a positive trend emerging, making the Bitcoin ecosystem more resilient and attractive to miners and investors.
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