Jamie Coutts, chief crypto analyst at Real Vision, is a major Bitcoin analyst. 
$60,797 He stated that the metric gave a bull signal. Coutts stated that the number of active Bitcoin addresses increased after an eleven-month downward trend.
Increase in Active Addresses
Coutts said considering the number of active Bitcoin addresses as a predictive tool is “one of the most important base-level on-chain metrics.” He emphasized that this increase will confirm the valuation of the Bitcoin network.
The analyst suggested that Bitcoin has the potential to rise between $147,600 and $184,500 this cycle. He noted that Bitcoin is currently trading at $61,830, down about 16%.
Expecting the Rise in Sui Token to Continue
Coutts also shared a positive outlook on SUI, the native token of the layer-1 blockchain Sui. He stated that SUI may continue to increase by over 100% in the last 30 days. “Bitcoin supports the future of the network when it shows organic network growth and adoption across all metrics,” the analyst commented on the altcoin. he said.
Stating that the current price of Sui is 1.92 dollars, Coutts said that investors should also take into account the effect of market psychology on price movement.
For investors who want to learn more about Bitcoin and SUI, real-time market data and analyst reports can be followed. These metrics can be important for understanding market trends.
As a result, the increase in active Bitcoin addresses and analyst price predictions are among the notable developments in the cryptocurrency market. Investors can observe market movements by evaluating this data.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
