7 Key signs the bull market is back for Bitcoin.

Source: Internet

1. Test the peak levels 

No market really matures until it goes through a few cycles of increase and decrease. The so-called ' winter Crypto ' tired did a very good job of removing the investors out of the market and leaving the ingredients that want to build real infrastructure.

The use of BTC does not only increase steadily in the last 16 months, but the hash rate is currently testing the highest level of all time at nearly 60 EH/sec and the average block size is also higher than 1MB, at 1.26 MB.

2. Google's search tends to spike back

Although Google Trends may not have shouted Bitcoin FOMO, but after the interim, the keyword search results "Bitcoin" is starting to rise again.

So far we all know that these latest momentum increases are being driven by organizations. If Tom Lee is right, FOMO will actually take place once the price hits the mold 10,000 USD.

3. Organizations are ready for the Bitcoin bull market

This time, Wall Street has made the seemingly infinite appetite for Bitcoin. The largest cryptocurrency asset manager Grayscale bought over 11,000 BTC in the previous month.

For 54,000 BTC is now mined after 30 days, which means that a monthly supply has increased by about 21% monthly, preparing for a new price increase.

4. The number of Bitcoin accruals increases over the past year

According to the research by Diar Analysis Company, the accumulation of Bitcoin has increased steadily over the last 12 months. The number of wallet addresses from 1,000 to 10,000 BTC has increased by 7%.

Coinbase is holding 760,000 BTC in its refrigerated wallet storage system. And more than one quarter (26%) BTC circulation is currently dispersed between wallets of various large volumes. Again, it all seems to be preparing for the big market raise prices.

5. Trading volume is recording new highs

The trading volume is setting up new records every month this year. Most recently, yesterday, South Korea has set a new high level of Bitcoin trading volume on LocalBitcoin with more than a trade of about 218 million won (equivalent to 183 million USD).

6. Big names appear in the Bitcoin market

When it comes to big names, nobody can be bigger than Microsoft. With the unexpected announcement at the consensus conference this month that they will build their own project on the Bitcoin blockchain, along with Whole Food, eBay and Facebook. The problem here is just the time.

7. Just look at the price

May 5, 2019 has been a great month on both the price for BTC. As Josh Rage – a cryptocurrency trader, the investor – has commented if Bitcoin ends the month at 8,975 or more, it will show a 70.37% increase in the month. That would also cause the 5th month to be the best month of Bitcoin since Nov. 2013.