Bitcoin's [BTC] trillion dollar dream: Decoding if it can be a reality
Much to the surprise of the BTC HODLers, there was a significant increase in the velocity and daily active addresses of the network.The HODLing continues
The reading of the MVRV ratio suggested that many BTC traders could sell their holdings for a profit. Furthermore, the declining long/short difference, on the other hand, implied that the selling pressure can surely be anticipated.However, transaction volume in profit decreased in February. The volatility in the price of Bitcoin could be one of the reasons behind it.Meanwhile, traders also remained optimistic about Bitcoin as long positions continued to grow.
To summarize, although the recent boost in Bitcoin’s value has revitalized the notion that it could become a trillion-dollar market, its realization is yet to be determined.Subscribe to get it daily in your inbox.
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