Over the last one year, we had Addresses with over 1 BTC hitting a new ATH, transactions increasing further and Active Entities growing further in Crypto. The most bullish bear market ever.

As we continue our slow walk through this bear market with literally barely any price movement in the past weeks and even months. All of this may seem very bearish for us and even this whole bear market, especially 2022 with LUNA, Celsius, FTX and much more collapsing, is seen as a new low for the Crypto industry and it may actually be true if you look at the price and market cap, both decreasing the most since the 2015 bear market.

But we have often said on here that prices are not everything and that especially in a young market as Crypto, where the focus should rather be laid on adoption and development than some short-term price jumps.

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Table from Bloomberg analyst Jamie Coutts, showing growth of Active Entities, 1 BTC adresses

This table from the Bloomberg analyst Jamie Coutts shows exactly that and even more. The amount of addresses with more than 1 BTC have increased to a completely new ATH in this bear market, which is probably the most bullish thing in this bear market. Further we also had +125% growth in transactions over the year and +24% growth in active entities. Those stats do indeed seem quite greeny for a bear market of this magnitude…

Really seems like this just was the most bullish bear market we could have had, so much growth and so many people that decided to not paper-hand were able to significantly increase their stack, seems like the foundation for the nest bull run is all set…