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This Bitcoin Indicator Forecasted the 2017 Bull Run. It Just Flashed Again

Bitcoin’s lackluster price action over the past few weeks has struck a serious blow to investor sentiment, leading many to anticipate weakness in the days and weeks ahead.

That being said, this growing bearishness may be unwarranted, as some interesting trends seen while looking towards its on-chain fundamentals seem to suggest that further upside is imminent in the days and weeks ahead.
There is one fundamental indicate called Bitcoin’s “Puell Multiple” that has historically flashed before the starts of previous parabolic uptrends – including that seen in late-2017.

This indicator is now flashing again, signaling that the cryptocurrency could be in the cusp of seeing massive upside in the near-future.

BTC’s next trend may also be strong and more sustainable than those seen in the past, as history suggests that long-held bouts of sideways trading are nearly always followed by decisive trends in one direction or another.