Bitcoin (BTC) flashes rare signal that produced massive rallies in past BTC $BTC
"The mother of all $btc bullish signals has flashed - DCA indicator. Historically, it has flashed only thrice in btc's existence & each occurence led to massive rallies of 7400% , 160% , 640% . Today marks the 4th time this signal is suggesting a raging bullmarket," he wrote.
Over the previous 24 hours, Bitcoin has increased by more than 12%, climbing to a little under $25,000. Early on Thursday, the biggest cryptocurrency in the world reached a high of $24,903, its highest point since Aug. 15. Since then, it has fallen to $24,407 as of this writing.Before this, investors' worries about regulatory risk and the notion that the U.S. central bank still had a long way to go to control inflation caused a decline in Bitcoin prices.
Some analysts, however, perceive the golden and death crosses as lagging indicators, occurring after most of the buying or selling has already occurred.
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