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Current On-Chain Analysis of Bitcoin and Ethereum Suggests Room for Improvement but Holders are already Selling

Bitcoin managed to break the $60k price limit on 13th march, and it was something that did give a lot of hope for further improvement and bitcoin scaling more and more price-oriented mountains in the future, but this hasn’t, sadly panned out that way just yet. But there has been another development despite the price of Bitcoin strikingly lower than the $60k limit. Over the on-chain analysis, Bitcoin managed to create a sixth green monthly candle that is nothing less than achievement on Bitcoin’s part. 

A similar did happen back then in April to September of 2012 where Bitcoin only managed to have nothing less than five green candles but this time it is the other way around, which suggests an incredible bull run that will be able to dominate or stick with Bitcoin for some time now making its price soar high even more. Despite all this positive improvement which indicates chances of growth, the Bitcoin holders have made up their mind and are already selling a large portion of their bitcoin holdings at the moment. 

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The Opportunity for more Gains Emerges for Bitcoin within the Crypto Market

The bullish run has accompanied Bitcoin for some time now. Doing so has strengthened the market share for the cryptocurrency and improved its overall performance among other crypto coins. It seems that the correction that Bitcoin had to go through amid all this bullish trend is about to come to an end and many other indicators and predictions over the on-chain analysis suggest that there is more and more ample room for improvement over there, and the price could improve given the right market turn.

But as it seems, the investors seem in a hurry, not being able to make up their mind about holding on to the crypto for some more time due to the lack of information it presumes. If this is the case, then the only possible fix for that is to spread the word more and more about the second bullish run that is going to accompany the first already present one.

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Hassan Mehmood (Saudi Arabia)

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

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