The latest surge in Bitcoin price may have been caused by increased activity across the board as the number of active wallets has risen by as much as 40-60 percent, according to the latest data and industry analysts. 

Recent Rally ‘Much More Valid’

Citing analysts from market intelligence company Flipside Crypto, Bloomberg reported that a large number of idle Bitcoin wallets have become active. According to the report, dormant wallets that have been inactive from one to six months, have decreased by 40 percent since March 15th.

It’s also worth noting that the number of unique active Bitcoin daily addresses has increased tantamount to the drop since March 15th, further supporting their claims.

Commenting on the matter was Eric Stone, co-founder, as well as head of data science at Flipside, who noted:

If you are a crypto optimist, that’s good news. […] There are more people warming up to the idea of buying Bitcoin.

The CEO of the company has also outlined that the latest rally was “much more valid” compared to…

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