A Bitcoin’s 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.”
DCA breakout last preceded 640% BTC price upside
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.”
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.