Feb 18, 2023
DCA Indicator Flashes Green, Preceding 640% BTC Price Upside
This week, a major warning to Bitcoin (BTC) bears was issued when a rare Dollar Cost Average (DCA) indicator flashed green for just the fourth time in history. This event has caught the attention of major Bitcoin investment circles, as the DCA indicator has historically been followed by massive BTC price upside.
Mohit Sorout, a crypto market analyst, tweeted on Feb. 16 that the DCA indicator was now “suggesting a raging bull market.” He also noted that it has only flashed three times in Bitcoin’s history, leading to rallies of 7400%, 160%, and 640%.
The DCA strategy involves allocating a fixed amount of capital to gain exposure to an asset at set intervals. For example, one could buy $10 per week in Bitcoin. This strategy is often 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. When it crosses into profitable territory, marked as 365 on its scale, major bull markets have historically begun.
Dan Tapiero, founder and CEO of 10T Holdings, declared in a repost of Sorout’s findings that this was a “rare massive Bitcoin Buy signal.”
Another rare bull signal this month comes in the form of the Williams %R oscillator, which Cointelegraph reported on.
However, there is a major hurdle in the form of several moving averages (MAs) overhead acting as resistance for much of 2022. Data from Cointelegraph Markets Pro and TradingView showed that two MAs formed a “death cross” for the first time ever this month.
With the bullish sentiment around Bitcoin’s 2023 recovery growing, many are turning to NFTs to capitalize on the market. NFTs are non-fungible tokens, which are digital assets that are unique and can’t be exchanged for other assets. They are being used to promote and sell digital items such as art, music, and collectibles.
NFTs are becoming increasingly popular, and some are turning to NFT marketing to help promote their NFTs. This can include using Twitter, influencers, and other marketing tactics to reach potential customers. There are also NFT marketing agencies that specialize in helping brands promote their NFTs.
The future of Bitcoin and NFTs looks bright, and many are looking to capitalize on the market. With the bullish sentiment growing, it is important to keep an eye on the DCA indicator and other metrics to ensure that you are making the best investment decisions.
Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.
