RATE Group | Every Time Bitcoin Flashed This Signal Since 2015, a Boom Followed. It’s Back
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Every Time Bitcoin Flashed This Signal Since 2015, a Boom Followed. It’s Back

03 May Every Time Bitcoin Flashed This Signal Since 2015, a Boom Followed. It’s Back

Posted at 12:59h in Bitcoin News by

Bitcoin has been on an impressive run over the past few weeks, mounting past resistance after resistance despite a harrowing macroeconomic backdrop. Since the March lows of $3,700, BTC is up 150%, a stellar performance that puts almost any other $100 billion+ asset to shame.

Although impressive, Bitcoin continuing to set new local highs and holding above key support levels has allowed the cryptocurrency to print a confluence of extremely positive technical signs.

Related Reading: Crypto Tidbits: Bitcoin Hits $9ks, a16z Raises $500M Crypto Fund, Ethereum 2.0 Nears

This trend continued on May 1st when Nunya Bizniz, a Bitcoin chartist and analyst, observed that the signal that preceded some of Bitcoin’s most important rallies over the past few years has just been spotted again.

Analyst Spots Crucial Bitcoin Signal, Suggesting “Significant Upside” Ahead

Because Bitcoin’s value is largely derived from its network effect — which suggests that the value of a good or service is…

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