Jan 13, 2021 03:27 GMTCrypto News
Bitcoin price correction might be nearing an end as several on-chain metrics hint that the bull run is just getting started.
The downswing allowed sidelined investors to get back into the market, creating an opportunity for a new leg up.
Bitcoin price retraced more than 20% after hitting a new all-time high of $41,986 on January 8. While the chances of further losses remain high, it might set the conditions for a new influx of capital that ignites a new uptrend.
Bitcoin on-chain indicators rise to record highs
Number of Active Addresses on the Bitcoin network considers how many tokens are being transacted daily. A higher address count indicates increased adoption and investors’ activity, both of which are positive developments for the underlying asset’s price.