Rare and massive buy signal for Bitcoin is an important development that is likely to spark renewed interest in the cryptocurrency
Tapiero took to Twitter to share the news, asking if anyone else could confirm the uber-bullish data.that the"mother of all" bullish signals for Bitcoin had flashed.
According to Sorout, the DCA indicator, which measures the performance of Bitcoin when investing on a dollar-cost averaging basis, has only flashed three times in the history of the cryptocurrency.Each time, the occurrence has led to massive rallies: a 7,400% increase in 2015, a 160% increase in 2019 and a 640% increase in 2020.
Sorout also mentioned that today marks the fourth time that the DCA indicator is suggesting a raging bull market for Bitcoin., Bitcoin recently managed to reclaim the much-coveted $25,000 level for the first time in eight months. However, it is still unclear how far this rally will go since the flagship cryptocurrency still has a long way to go before reclaiming its previous all-time high of $69,000.
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