Appreciate your support,
Thanks for the time you spent trying to provide a solution to our case.
We opened more than 15 support chats and tickets with bluehost support trying to find the cause of the slowness, and they always confirmed that this is related to our site and not to their Serveror Network configuration.
We have optimized our Moodle through removing some of the plugins, and checking the image sizes, BUT this did not help.
So we are on an open ended case and we started facing comments regarding performance from our clients. We are now preparing different hosting and planning to migrate our domain (nameservers) to it and then we check the performance. At this point, it will be clearly visible if it is related to DNS and Server OR related to our Moodle site.
Thanks again for your support!