Cryptocurrencies
Time to Buy the Crypto Dip? Strength Indicator Flashes Oversold
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After one of the worst stretches in the short history of cryptocurrencies, a technical gauge is suggesting it might be time to wade back in.
The Bloomberg’s Galaxy Crypto Index, which tracks major digital assets including Bitcoin, Ether and Monero, is in oversold territory based on the GTI Global Strength Indicator, which measures the strength of the price by comparing individual upward or downward movements of successive closing values. The last time the index was this oversold was in late November, it rallied about 20 percent from 242 to 290.