Could retail investors be flocking back to Bitcoin (BTC)? In encouraging signs for a bullish 2022, Glassnode data reveals that 913,000 new Bitcoin addresses were added from Nov to the start of December this year.

In a benefaction for BTC, on-chain annotator On-Chain College shared insightful data regarding retail adoption and the potential beginnings of broader adoption trends. The primal takeaway to circular off the year is that up to one million new entrants joined the Bitcoin network in November.

Despite bearish toll action in the short term, the Twitter flood shows that the macro outlook for BTC remains sound. Co-ordinate to the chart, from June 2022 to December 2022, the number of wallet addresses with a remainder greater than zero has trended upward from 30 million wallets to a touching distance of forty meg.

Glassnode describes the non-zero balance metric as the number of unique addresses property a positive (non-cipher) amount of coins. When the number trends up, new users enter the Bitcoin network.

When information technology trends down, as visualized in the orange line on the graph from May to July this year, it shows users emptying their wallets to naught. Past inference, wallet addresses' fall is a downward price action indicator.

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In light of November's new entrants, it begs 2 questions: Was this just an outlier fueled by excitement subsequently recently striking an all-fourth dimension high? Was information technology the first of a broader trend?

Information technology's heartening to recollect that with thanksgiving, festive celebrations and Omicron fears in Nov and December, potential investors accept more opportunities to research Bitcoin and potentially invest.

Reporting in December backs upwardly the claim, as the residue changes for wallets holding 1 BTC or less — typically suggesting smallscale investors — reached their highest since March 2022.

However, there is a note of caution regarding the time to come of retail. William Clemente, oft-cited in Cointelegraph and a BTC annotator, tweeted a serial of graphs with the message "retail interest in Bitcoin is pretty much gone since the Bound."

More than evidence of retail is required. While it was widely reported in October that institutions are buying Bitcoin rather than gold, Google Trends search information for "Bitcoin" is a quarter of what information technology was during the December 2022 peak. Patently, retail mania is some ways off.