Data show that the growth rate of Bitcoin active users tends to stagnate

Based on the statistics of daily active addresses of Coin Metrics, the overall trend of daily Bitcoin active addresses from January 10, 2009 to December 1, 2019 is upward. However, in the nearly two years since then, the growth of active Bitcoin users has slowed significantly. The upward trend has almost completely disappeared.Although the decrease in active users can be partly attributed to the bitcoin plunge in early 2018, it is worth noting that in the months since then, the number of daily active users has also It really hasn't changed much. Coin Metrics data also shows that the number of active Bitcoin addresses follows a trajectory similar to the price trend. Analysis of these two data (daily active address and daily closing price in US dollars) shows that the Pearson correlation coefficient is 0.76, which indicates that there is a strong positive correlation between the two. It's unclear what causality exists, but it does suggest that if the price of Bitcoin rises again sharply in the future, the number of active addresses may also rise. The correlation between active users and prices is clear. Although the correlation is not causal, the data indicates that if the number of active users increases, the price of Bitcoin is also likely to rise.