Bitcoin activity storms – can it be the next penetration?

Bolockchain from Bitcoin has seen a significant increase in use, achieving the highest level of activity in six months.

It was nearly a million unique addresses on May 3, according to Blockchain Data– The indication of the user’s interest is exactly the same as BTC maintains about $ 95,000.

The increase in participation comes amid the raising speculation that bitcoin is on the edge of the decisive price movement. Historically, when the title activity climbs like this, it often indicates accumulation before the momentum of the strong price – up or down.

Currently, BTC is trading within a narrow range, with 96,160 dollars working as a floor and resistance that is formed near 98,290 dollars. If Bulls managed to overcome this upper barrier, analysts believe that $ 100,000 may be at hand soon.

In addition to the upscale issue, some technical analysts say that Bitcoin shakes the recent downward pressure associated with geopolitical events and economic uncertainty. With the return of confidence and long-term holders remain constant, the market may prepare for the upcoming leg-which targets a range of $ 106,000 if the momentum continues.