Bitcoin’s Rallied 4,000% After This Signal Flashed in 2016. It’s Back Again

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By definition, Bitcoin is still in a bear market. One analyst recently commented in reference to the chart below. “Allow me to explain: BTC hasn’t made a higher high in a full year, so per definition, it’s not a bull market. BTC has made lower lows and lower highs consecutively for a full year, so per definition, it’s a bear market,” he wrote referencing the chart below that shows BTC’s price action and macro phases. BTC’s macro price action with macro phases overlayed. Chart by Limitless (@LimitlessXBT on Twitter), chart from TradingView.com This has been echoed by Peter Schiff, the prominent gold proponent and investor. Yet a crucial on-chain signal just appeared that has preceded some of Bitcoin’s largest rallies over the past decade. A Bitcoin Bull Signal Just Appeared As first spotted by a prominent Bitcoin commentator, the Hash Ribbons have just crossed bullish and printed a “buy” for…

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