Analyst Jamie Coutts Says One Bitcoin Metric in Bullish Reversal, Predicts BTC Will Hit Over $140,000 This Cycle
Real Vision’s chief crypto analyst Jamie Coutts is saying that a major Bitcoin (BTC) metric is flashing a bullish signal. Coutts says that the number of active Bitcoin addresses is rising after a downtrend that lasted for eleven months. According to Coutts, the number of active Bitcoin addresses as a predictive tool remains “one of the most significant base-level on-chain metrics.” The Real Vision cryptocurrency analyst further says that Bitcoin could surge to between $147,600 and $184,500 this cycle. “While I anticipate Bitcoin reaching 2x to 2.5x its all-time high this cycle, a corresponding breakout in base chain active addresses would undoubtedly validate the network valuation. After all, Bitcoin is a global monetary network; demonstrating organic network growth and adoption across all metrics helps underwrite its future.” Source: Jamie Coutts/X Bitcoin is trading at $61,830 at time of writing, down by around 16% from the all-time high price of...