Explaining the Current Bitcoin Rally Using Blockchain Data

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Bitcoin and the top altcoins are experiencing a major rally with prices and trading volume increasing to significant levels. An analysis of the blockchain data can reveal some fascinating patterns of the recent crypto-rally. The increase in price brought together an increase in the percentage of investors realizing profits with Bitcoin. The Break-Even analysis that looks at realized gains shows that the next strong level of resistance of Bitcoin might be around $10.400 dollars so there is some room for the price to fluctuate. There are around one million addresses with positions around the current price which will help influence trading activity in the next few days.