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Another record broken by Bitcoin!

Photo of: Joseph Stone
by Joseph Stone

Bitcoin’s progress continues with a price that is approaching its historical records (All Time High). The proof, the number of new Bitcoin addresses created: 24,807 in the space of just one hour.

Such a level had not been reached since January 2018. It must be said that for the last few weeks, Bitcoin has been breaking records and getting closer to historical indicators. Investors have in mind the 20,000 dollars of December 2017.

Bitcoin is not there yet. On the other hand, the bull run is bound to attract new users. According to Glassnode, 24,807 new Bitcoin addresses were created on November 18. And all this in the space of just one hour.

And the last time such a high level of address creation was observed was in January 2018, just after the $20,000. However, as our colleagues at Decrypt point out, new addresses do not necessarily rhyme with new users.

There is nothing to prevent the same cryptocurrency holder from creating different addresses and distributing his assets to them. It is even preferable for reasons of confidentiality and security. In addition, many addresses do not host any funds.

According to Glassnode data, however, a total of 32.5 million Bitcoin addresses are currently in a positive balance. And this figure has been rising steadily since March 2018.

Although the number of Bitcoin users cannot be accurately estimated from the addresses, the active addresses indicator does provide a clue. These active accounts are currently around 850,000.

This is a high level, but still lower than the peak in 2017. Another indication of activity is the number of searches for Bitcoin on Google’s search engine. However, these searches have not yet reached peaks. Perhaps also because Bitcoin is no longer as alien to Internet users as it was 3 years ago.

If this record is still to be beaten, it is no longer the case of the global capitalization of Bitcoin. The previous record was set in 2017 with a Bitcoin worth 20,000 dollars. In 2020, the price rose above $18,500 (before falling back down), but the record was broken nevertheless.

The reason is simple. The number of Bitcoins in circulation has simply increased since then. As of mid-December 2017, there were 16.75 million Bitcoin in circulation. Since then, an additional 1.8 million tokens have been mined.