Bitcoin metric prints ‘mother of all BTC bullish signals’ for 4th time ever
A Bitcoin (BTC) price indicator has flashed green for just the fourth time ever this week in a major warning to bears.
In a tweet on Feb. 16, crypto market analyst Mohit Sorout announced that the dollar cost average (DCA) indicator was now “suggesting a raging bull market.”
The latest Bitcoin metric to flip bullish on long timeframes, the DCA indicator is even getting attention from major Bitcoin investment circles.
Its buy signals are rare, with Sorout seeing just three throughout Bitcoin’s history, each precluding serious BTC price upside.
“Today marks the 4th time this signal is suggesting a raging bullmarket,” he wrote in comments, describing the event as “the mother of all btc bullish signals.”
The mother of all $btc bullish signals has flashed - DCA indicatorHistorically, it has flashed only thrice in btc's existence & each occurence led to massive rallies of7400% (2015)160% (2019)640% (2020)Today marks the 4th time this signal is suggesting a raging bullmarket pic.twitter.com/suMVlWFrzc
DCA refers to an investment strategy whereby a buyer allocates a fixed amount of capital to gain exposure to an asset at set intervals. This could be buying $10 per week in Bitcoin, with the concept regularly touted as an optimal way of gaining exposure to volatile cryptocurrencies.
The DCA Indicator measures the relative profitability of a hypothetical DCA strategy involving $1 buys per day for a year.
Once it crosses into profitable territory, marked as 365 on its scale, major bull markets have historically begun, Sorout argues. An exception appears to be mid-2022 when a move above the 365 mark subsequently reversed, and BTC/USD started its journey to multi-year lows near $15,600.
Nonetheless, amid an atmosphere of increasing faith in
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