seemed to be stagnating around the $66,000 mark, at the time of writing. And yet, despite its iffy price action, the outlook for the world’s largest cryptocurrency remains as positive as ever.Bitcoin traders are still in a bull market, despite the recent price drop. His optimism stems from the fact that the average entry price for Bitcoin traders is around $47,000.
This is a sign that many traders are likely waiting for the price to rise again, before selling. It’s worth noting, however, that the analyst also advised caution, recommending a long-term bullish approach while avoiding excessive risks in the current volatile market.Most of these addresses holding BTC are long-term holders. Long-term holders are those who buy Bitcoin with the intention of holding it for an extended period, often years or even decades.
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