Rare signal in Bitcoin: “It had risen by 10,000 percent”

According to analysis platform AMBCrypto, “super signals” indicating a major rise have formed on the Bitcoin (BTC) price chart.

A volume indicator used on the $BTC chart has recently given “super signals” back to back. The analysis reported that the signal in question is a rare event seen only in major rallies.

Historical data shows that such signals in $BTC resulted in increases of close to 10,000 percent in 2012 and close to 3,000 percent in 2016.

AMBCrypto claimed that if history repeats itself, BTC could rise close to 10,000 percent.

Super signals, an indicator, were last seen in September 2023, and on that date, the BTC price rose by 200 percent. The analysis noted that another super signal emerged in October, called Uptober.

The analysis included the following statements;

“Super signals occur when trading volume is extremely low in a bullish market. Analysts suggest that these conditions indicate accumulation, as buying interest remains constant while sellers decrease. “

The leading cryptocurrency hosted a 5.96 percent increase in the last seven days. Increased investor interest positively affected trading volume. According to CoinGlass data, BTC's trading volume reached $ 42.62 billion. BTC's open interest in options markets rose to $ 25 billion, drawing attention.

Blockchain research platform IntoTheBlock stated that 71 percent of BTC holders have maintained their positions for over a year. 12 percent of $BTC supply has passed into the hands of whales.

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