When This Signal Flashed in 2017, Bitcoin Gained 1,500%. It’s Back Again

5f6f035ba7694

Bitcoin has flatlined over recent weeks, entering a trading range between $10,000 and $11,000. On a macro basis, not all analysts are convinced that BTC is in a full-blown bull market. There are a number of resistances above Bitcoin’s current price that could mark highs of a medium-term rally. Despite this, there are crucial on-chain indicators suggesting that the cryptocurrency has room to move higher. One such indicator, which formed in 2017 prior to a 1,500% move higher, has returned. There are also fundamental trends that suggest that the ball is firmly in the court of bulls at the moment. Crucial On-Chain Bitcoin Indicator Suggests a Strong Rally Will Come Ki Young Ju, CEO of CryptoQuant, noted that Bitcoin is likely on the verge of a full-blown bull run as the mining ecosystem flashes a number of bull signals. He shared the chart below on September 24th, noting that Bitcoin…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE