After their significant depreciation, crypto-markets began to show signs of having reached a potential bottom. At least according to this indicator.
The Bloomberg's Galaxy Crypto Index, which tracks major digital assets, including Bitcoin, Ether, and Monero, shows that they have entered resale territory. The indication is indicated by the GTI Global Strength Indicator, which measures the price force by comparing individual upward and downward movements and their closing values. The last time the indicator was resold was in late November, the price of Bitcoin rose 20% from 242 to 290.
This bottom, though not considered as a prerequisite for creating a new upward trend, may cause a short rally to give the bull's breath.
Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P.
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