Feb 18, 2023
Rare BTC Buy Signal Predicts 640% Price Upside
This week, crypto market analyst Mohit Sorout announced that the dollar cost average (DCA) indicator was suggesting a raging bull market in Bitcoin (BTC). This is the fourth time this indicator has flashed green in Bitcoin’s history, and each time it has preceded a major price increase.
DCA is 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. 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 and massive Bitcoin buy signal.
The Williams %R oscillator is another rare bull signal this month, as Cointelegraph reported. This indicator is a bit more complex, as it depends on the timeframe.
Caleb Franzen, a senior market analyst at Cubic Analytics, warned that Bitcoin’s latest trip to six-month highs represented a “failed breakout.” Data from Cointelegraph Markets Pro and TradingView further showed two moving averages (MAs) forming a “death cross” for the first time ever this month.
The bullish sentiment in the Bitcoin market has been growing, and the latest indicators are just further proof that a bull run may be on the horizon. In addition to the DCA and Williams %R indicators, there are a number of other factors that could be contributing to the bullish sentiment.
One of the most popular ways to promote and market NFTs is through Twitter. NFT marketing agencies specialize in helping creators and organizations create, promote, and sell their NFTs. These agencies use a variety of strategies to reach potential buyers, including leveraging influencers and creating custom campaigns.
Additionally, web3 agencies are also helping to promote NFTs. These agencies specialize in building decentralized applications and providing services that support the growth of the Web3 ecosystem. They provide a variety of services, such as helping organizations launch their own NFTs, creating custom NFT marketing campaigns, and developing strategies to help organizations reach their target audience.
The combination of these strategies, along with the bullish indicators, could be a sign that the market is ready for a major bull run. As more organizations and individuals start to explore the potential of NFTs, the demand for these digital assets is likely to increase. This, in turn, could lead to a major increase in the price of Bitcoin and other cryptocurrencies.
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.
