A rally on Bitcoin prices could be on the last step, warns a Bloomberg analyst

Beware of Bitcoin Bears – MACD is not everything

Bitcoin's MACD has been steadily declining since last month, which could indicate that the recent recovery in the cryptography market is already coming to an end. | Source: Bloomberg

Keep in mind, however, that it is a crypto. The old world tools like MACD and EMA go very far here.

Long-term mapping suggests that bitcoin may be overbought, but sellers can nevertheless move away from the market if demand lowers the price. The players present at this stage of the game have not much to lose while waiting a little longer. Parts of the mining industry are a key group that will always sell, but they are developing more and more strategies to cope with long bear markets.

Mike McGlone, an analyst at Bloomberg, thinks differently. He thinks the market is preparing for another big slowdown, similar to the one that saw Bitcoin fall by 50% from October to December.

"The conditions look like November, just before the collapse. Prices are consolidating in increasingly narrow ranges, with some strong bear market recoveries that seem fleeting. "

Altcoin Boom Times?

The price of Bitcoin has lagged behind Litecoin and Ethereum, among other altcoins. | Source: Yahoo Finance

EToro's lead market analyst, Mati Greenspan, said the money was only going down in the market capitalization list. He said:

"As we approach the climax of crypto winter, we find that some altcoins are showing dramatic gains in recent weeks. We are now in what industry insiders like to call the whole season. "

The Bitcoin gains have been slow compared to Litecoin and Ether, Bloomberg concludes. The litecoin is perhaps the brightest story of the year, recording a rise of less than $ 30 to its current state of $ 50 – a real gain. Taking into account price deflation, it would be hundreds of times when the situation would be better.

Is the so-called gathering finished? This journalist, for his part, is never willing to say as much about Bitcoin. We must take a long-term view, at the end. It was not a gathering to start from this point of view. It was more like usual. If I have 1 dollar today and it's losing 50% of its value tonight, then it's back 10% tomorrow, has that picked up or is it what am I a little less in the hole?

Wait, did not analysts say that last month?

The wisdom in taking advantage of the MACD may be that people targeting the $ 4,000 region might consider cooling their jets. These prices may no longer be available. For the buyers, a waiting period could also be beneficial, allowing the whales to play the last game of the "rally".

It should be noted that last month, analysts called the "end" of the rally. He continued for about $ 500. If the same thing happens this time, the result could be longer.

But again, it's crypto.