Bitcoin has struggled through August after leaping higher at the end of July.
The bitcoin price has repeatedly tried and failed to gain a footing over $12,000 per bitcoin but is currently stuck trading around $11,800.
Now, as a number of high-profile investors turn to bitcoin amid unprecedented coronavirus stimulus spending, the biggest bitcoin and crypto wallet apps, including Coinbase, Blockchain Wallet, Crypto.com, BRD, and Binance, saw record combined downloads in Julysuggesting to some bitcoin is "in the early stages of another bull market."
Downloads and users of bitcoin and cryptocurrency apps have surged in recent months, with some of ... [+] the most popular, including Coinbase, hitting all-time highs.
In July, the top 10 crypto wallet apps increased net new installs around 81% year-on-year, according to research carried out by app data website Apptopia.
"At the start of quarantine, we noticed an uptick in new installs for some of these apps, but didn't think much of it because this market tends to be quite volatile anyway," Apptopias Madeline Lenahan wrote in a blog post alongside the data, adding it "looks like the growth we saw was, in fact, real and lasting."
Coronavirus pandemic lockdowns as well as the growing popularity of bitcoin and cryptocurrency in emerging markets were found to be apparently driving the increase in bitcoin and crypto wallet downloads.
The bitcoin price surge at the end of July, taking bitcoin to its highest level since June last year, triggered a bitcoin retail trading boom with exchanges around the world reporting sky-high bitcoin trading volume.
The sudden wave of fresh interest in bitcoin from both institutional and retail investors has caused some to make parallels to bitcoin's massive 2017 bull run that saw the bitcoin price soar from under $1,000 per bitcoin to around $20,000 in under 12 months.
Some of the most popular bitcoin and cryptocurrecy wallet apps have surged in popularity over recent ... [+] months, according to Apptopia research.
"It appears to many that we're in the early stages of another bull market for bitcoin, this time against a macroeconomic backdrop that seems almost scripted for bitcoin to shine," Cory Klippsten, tech investor and founder of bitcoin buying app Swan Bitcoin, said via Telegram, pointing to the big new user percentage increases seen by a "new crop of bitcoin-only services like Coinfloor in the UK, Bitaroo in Australia," and his own Swan Bitcoin in the U.S. which are "all seeing growth through the roof."
"No one can predict the future, but if the pattern of 4-year bitcoin market cycles continues, we're looking at a peak sometime around the end of 2021. More people are dipping their toes into bitcoin every day, and the ones that are already here are gaining conviction and buying more."
See more here:
Bitcoin In The Early Stages Of A Bull Market, Crypto Wallet Data Reveals - Forbes
- Bitcoin Rally Attracts Wave Of Private Investment As Leading Blockchain VC Raises New $120 Million Fund - Forbes - December 26th, 2020
- Bitcoins Rally Has Already Outlasted 2017s Epic Run - The Wall Street Journal - December 26th, 2020
- Here's Why I Won't Buy Bitcoin, and You Shouldn't, Either - Motley Fool - December 26th, 2020
- The price of bitcoin is 'driven by manipulation': Nouriel Roubini - Yahoo Finance - December 26th, 2020
- Bitcoin To 27K Projection? - Yahoo Finance - December 26th, 2020
- Bitcoin And Crypto Trading Tips From Poker World Champion Annie Duke - Forbes - December 26th, 2020
- Mark Zuckerberg has another answer to Bitcoin - The Japan Times - December 26th, 2020
- An Unknown User Incurs More Than $80,000 in Transaction Fees When Sending BTC Worth $1 | Blockchain - Bitcoin News - December 26th, 2020
- Tokenized Bitcoin on Ethereum Now Tops $1.1 B: Here's Why - CoinDesk - Coindesk - September 25th, 2020
- 3 reasons why traders turned bullish after Bitcoin price surged to $10.7K - Cointelegraph - September 25th, 2020
- First Mover: Bitcoins Hit Exchanges as Bloomberg Touts Crypto and DeFi Hedge Fund Seeks $50M - CoinDesk - September 25th, 2020
- BitGo Is Bringing DeFi-Friendly Wrapped Bitcoin to the Tron Blockchain - CoinDesk - Coindesk - September 25th, 2020
- Keiser Insists 'Bitcoin Inversely Correlated To USD Not Stock Markets' After Crypto Market Tumble | Markets and Prices - Bitcoin News - September 25th, 2020
- Profit taking Bitcoin miners wont stop the next bull run: On-chain analyst - Cointelegraph - September 25th, 2020
- The Winklevosses have launched their bitcoin exchange in the UK - Wired.co.uk - September 25th, 2020
- Christies to sell its first non-fungible-token as part of epic Bitcoin artwork - Cointelegraph - September 25th, 2020
- Bitcoin-related ads are now streaming on Disney+ in some regions thanks to Zebpay - Cointelegraph - September 25th, 2020
- Cryptocurrency ETF by Nasdaq and Hashdex Approved to List on Bermuda Stock Exchange | Regulation - Bitcoin News - September 25th, 2020
- XSwap Started Yield Farming, The Highest APY Reaches 70,000% | Press release - Bitcoin News - September 25th, 2020
- Bitcoin sentiment at record lows Does it mean the price will go up? - Cointelegraph - September 18th, 2020
- Its a bull trap! 3 key metrics forecast Bitcoin price rejection at $11K - Cointelegraph - September 18th, 2020
- Bit Digital, Inc. Announced Officially to Cooperate with the World's Leading Bitcoin Colocation Partner In US - PRNewswire - September 18th, 2020
- How Bitcoin Correlations Drive the Narrative - CoinDesk - CoinDesk - September 18th, 2020
- Bitcoin hardware devices need to improve to handle complex transactions - Cointelegraph - September 18th, 2020
- First Mover: Bitcoin Investors the Sane Ones as Federal Reserve Cheers Inflation, Price Nears $11K - CoinDesk - CoinDesk - September 18th, 2020
- Why We Get Obsessed With Bitcoin - Decrypt - September 18th, 2020
- Tevoro.com Announces New Book Revealing What's Missing from Bitcoin, Ethereum and Other Cryptocurrencies - PRNewswire - September 18th, 2020
- Bank of England talks negative interest rates in best ad for Bitcoin - Cointelegraph - September 18th, 2020
- Fed, oil and record hash rate: 5 things to know in Bitcoin this week - Cointelegraph - September 18th, 2020
- Glen Oaks Escrow Announces It Assisted With Yet Another Bitcoin Transaction - PRNewswire - September 18th, 2020
- India's Crypto Bill Omitted From Parliament Agenda While New Ban Report Appears - Bitcoin News - September 18th, 2020
- First Mover: As Bitcoin Falls for Second Day, Long-Term Holders Probably Won't Care - CoinDesk - CoinDesk - September 5th, 2020
- Can You Have Your Bitcoin And Eat It Too? - Forbes - September 5th, 2020
- If Bitcoin Crashes Below $10,000 Its All OverHeres Why - Forbes - September 5th, 2020
- A Radical New Crypto Just Blew Past The Bitcoin Price All-Time HighUp A Shocking 3,500% In Just One Month - Forbes - September 5th, 2020
- First Mover: Buying Bitcoin's Dip, Betting Against Tether and Weighing the Jobs Report - CoinDesk - CoinDesk - September 5th, 2020
- Private Capital And Institutions Are Piling Into Bitcoin And Other Digital Assets But You Need To Know Where To Look - Forbes - September 5th, 2020
- Ethereum Soars 10% Overnight Implications For Bitcoin - Forbes - September 5th, 2020
- Bitcoin Down Almost 10% Today, You'll Be Surprised to Hear What's Next - FX Empire - September 5th, 2020
- So Far, a Nice Rise But Not a Wild Runup for Bitcoin Since the May Halving Event - Digital Transactions - September 5th, 2020
- Bitcoin Will Be Accepted for Tax Payments in Swiss Canton Zug Next Year | Taxes - Bitcoin News - September 5th, 2020
- The History of Bitcoin - WTOP - September 5th, 2020
- Wasabi Wallet Patches Flaw That Could Have Thwarted Bitcoin Privacy Feature - CoinDesk - Coindesk - September 5th, 2020
- Why Fusion's DCRM is The Best Option for DeFi Users | Sponsored Bitcoin News - Bitcoin News - September 5th, 2020
- Bitcoin Will Break Out This Year, Says Devere CEO | News - Bitcoin News - September 5th, 2020
- Tax Implications For Donations Of Bitcoin - Forbes - September 5th, 2020
- Protection Over Profit: What Early Mining Patterns Suggest About Bitcoins Inventor - CoinDesk - CoinDesk - September 5th, 2020
- Research: New Malware Employs Tor and Bittorrent To Steal Bitcoin and Ether | Security - Bitcoin News - September 5th, 2020
- Will Bitcoin Dump If Stocks Have Another COVID-19-Scale Crash? - Forbes - September 5th, 2020
- Elon Musk Confirms Serious Russian Bitcoin Ransomware Attack On Tesla, Foiled By The FBI - Forbes - September 5th, 2020
- 3rd Bitcoin SV Hackathon Finalists announced to compete for USD $100,000 - PRNewswire - September 5th, 2020
- Max Keiser thinks Warren Buffett will move to Bitcoin soon - Cointelegraph - September 5th, 2020
- Major Swiss Insurer Adds Bitcoin and Ether Payments | News - Bitcoin News - September 5th, 2020
- Warren Buffett Shifts Funds From US Amid Inflation Fears, Bitcoin's New All-Time High Expected | News - Bitcoin News - September 5th, 2020
- No interim injunction over bitcoin account where damages would be adequate - Lexology - September 5th, 2020
- Venezuela's Bitcoin Use Soars Amid Hyperinflation: 3rd on Global Crypto Adoption Index | News - Bitcoin News - September 5th, 2020
- Bitcoin market index back to fear on 91st anniversary of 1929 crash - Cointelegraph - September 4th, 2020
- China Is No Threat To Bitcoin, Promises Foundry CEO After $100 Million Bitcoin Mining Bet - Forbes - September 4th, 2020
- 3.5 Million+ Crypto Wallets Downloaded in July, Active Users up 110% in the Year | Wallets - Bitcoin News - September 4th, 2020
- Here Are The Key Levels To Watch In Bitcoin - Forbes - September 4th, 2020
- Ethereum Is Eating Bitcoin - Forbes - September 2nd, 2020
- Bitcoin Rally Fails After Breaking Through $12,000 - Forbes - September 2nd, 2020
- Fidelity Is A 1,000 Pound Bitcoin Gorilla In The Making - Forbes - September 2nd, 2020
- Is Bitcoin About to Explode? - TheStreet - September 2nd, 2020
- Russia Blocks Cryptocurrency Websites Ahead of Regulation | News Bitcoin News - Bitcoin News - September 2nd, 2020
- USD has more room to fall 5 things to watch in Bitcoin this week - Cointelegraph - August 31st, 2020
- Federal Reserve's Major Policy Shift to 'Push Up Inflation' Could Send Bitcoin Price to $500K - Bitcoin News - August 31st, 2020
- Bitcoin balks as the Fed talks, DeFi surge continues: Weekly recap - Cointelegraph - August 31st, 2020
- $140,000 of North Korean Bitcoin Targeted by DoJ Starts Moving - Decrypt - August 31st, 2020
- Bitcoin 'maximalists' accused of 'shilling' an SEC-cleared token - Cointelegraph - August 31st, 2020
- SEC Redefines Accredited Investors to Include Those With Proven Knowledge | Regulation - Bitcoin News - August 31st, 2020
- First Mover: Binance's Shrinking Trading Spreads and Bitcoin's Jackson Hole Fizzle - CoinDesk - CoinDesk - August 31st, 2020
- Blockchain Bites: What Rising Inflation Could Mean for Bitcoin and the US Dollar - CoinDesk - CoinDesk - August 28th, 2020
- Digital Dollar To Be In Competition With Bitcoin - Forbes - August 28th, 2020
- Fidelity Is A 1000 Pound Bitcoin Gorilla In The Making - Forbes - August 28th, 2020
- Tyler Winklevoss says US Fed is the biggest booster of Bitcoin price - Cointelegraph - August 28th, 2020
- New Binance Exclusive Reveals The Bitcoin Exchange Might Have A Serious Problem - Forbes - August 28th, 2020
- Explanation of the Stock to Flow Model as Bitcoin Pulls Back - Market Insights - TradeStation Market Insights - August 28th, 2020
- Here's Why Bitcoin Is A Must In Your Portfolio - Seeking Alpha - August 28th, 2020
- Market Wrap: Bitcoin Dips to $11.6K, ETH Options Predict Price Below $400 by End of Year - CoinDesk - CoinDesk - August 28th, 2020