Pi Capital
Date of publication: 30 November 2020
Bloomberg points to 5 metrics that continue to support Bitcoin's growth
According to experts interviewed by Bloomberg, that despite the sharp decline in the exchange rate on Thursday, the recent rise of bitcoin to historical highs shows signs of development of a large asset class, and not the formation of another bubble. Experts continue by stating that, the cryptocurrency market has become much deeper and more liquid since the bull rally in 2017, which continues to attract major Wall Street players.

The publication provides five metrics that demonstrate the continued growth of bitcoin.

Network effect

The number of Bitcoin users continues to grow, surpassing competitors in this parameter. According to data from ByteTree.com and Glassnode, there are currently over 30 million addresses with active balances. The number of addresses with non-zero balances now exceeds the figures for 2017.

Market depth

Reduced delays

Alternative asset

Computing power

The computing power of bitcoin has been growing over the past two years, along with investments in the equipment of miners who are interested in earning cryptocurrency rewards.

Alexey Shternshis
Pi Capital Union

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