Bloomberg analysts have recorded signals for a sharp decline in bitcoin

On March 12, Bloomberg analysts published a report in which they predicted a sharp decline in the bitcoin exchange rate.

The review notes that currently recorded the first signs of a sharp weakening of demand for bitcoin. Experts of the Agency refer to the data of the cryptocurrency indicator Moving Average Convergence Divergence (MACD), which shows a decline since mid-February.

This indicator reflects the activity of traders and is one of the leading indicators in the market, on the data of which investors and analysts are guided.

In 2019, bitcoin tested the $4000 mark several times, but could not stay at this level. Bloomberg analysts agree that there is increasing pressure on traders who are preparing for a massive reset of BTC.

One of the experts of the Agency, Mike McGlone said:

The whole industry is ripe to resume the path of decline. Conditions are similar to November (2018) shortly before the fall of bitcoin to the annual minimum

At the time of publication of this material, the bitcoin rate was slightly above $3900, and the market capitalization of this asset reached $68.7 billion.

It is worth noting that at the end of last year, the same analyst Bloomberg predicted the average value of the BTC coin in 2019 at $1500. Analyst eToro's Mati Greenspan also believes that the bitcoin will decrease.

In his opinion, the main reason will be the increased interest of investors in altcoins, some of which have demonstrated impressive success over the past few weeks.