ld: -no_pie and -bitcode_bundle (Xcode setting ENABLE_BITCODE=YES) cannot be used together error

When I try to execute my app from XCode 7 on my iPhone 4 I get the ld error: "ld: -no_pie and -bitcode_bundle (Xcode setting ENABLE_BITCODE=YES) cannot be used together"

What is that -no_pie, and how to fix the problem, without of course disabling bitcode?

When I compile for the iPhone 6 simulator, everything goes semlessly, without any issue altogether.