Bloomberg reports that technical indicators point to potentially positive developments for cryptocurrencies after hard sales. According to the report, the GTI Vera Convergence Divergence Indicator gave the first purchase signal in the last three months on the Bloomberg Galaxy Crypto Index, which tracks large cryptocurrencies. The index appreciated significantly from $ 250 to over $ 500 after the buy signal in December. Although Bitcoin fell from $ 10,000 to $ 6000, taking unprecedented steps to support the economies of central banks around the world makes many investors optimistic about digital currencies. Mike Novogratz, CEO of Galaxy Digital Holdings, for example, announced last week that he was using the last drops to buy Bitcoin.
On the other hand, Christel Quek, co-founder of Bolt Global, pointed out that central banks continue to print money and said: “A decentralized currency and exchange tool like Bitcoin will break this cycle of cash leakage. I anticipate that cryptocurrencies will strengthen after the epidemic stops. ” Finally, DigitalMint’s operations director Don Wyper said, “Bitcoin is a much more valuable but still relatively new asset class and technology than its current price. In the short term, volatility will continue to be the main concern. ” He spoke in the form. Bloomberg Galaxy Crypto Index consists of Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin and EOS as of today. Bitcoin and Ethereum each weigh 30 percent in the index. XRP’s weight is 19.43 percent, Bitcoin Cash’s weight is 9.68 percent, Litecoin’s weight is 5.98 percent, and EOS’s weight is 4.92 percent. Disclaimer: What is written here is not an investment recommendation, but the author’s own opinion. Cryptocurrency investments are high-risk investments. If you do not have enough experience and knowledge, it is recommended to seek help from a consultant. Every investment decision is under the responsibility of the individual. Somag News and the author of this content cannot be held responsible for personal investment decisions.
