---
title: "Bloomberg predicts Bitcoin rate correction observed in recent days may continue | ICOLINK"
description: "May was very successful for the first cryptocurrency - the Bitcoin rate rose by 60%, however, Bloomberg analysts believe that the correction observed in recent days not ended.According to analysts, GTI Vera Convergence-Divergence indicator, which tracks positive and negative trends, points to a cont"
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---

# Bloomberg predicts Bitcoin rate correction observed in recent days may continue

> May was very successful for the first cryptocurrency - the Bitcoin rate rose by 60%, however, Bloomberg analysts believe that the correction observed in recent days not ended.According to analysts, GTI Vera Convergence-Divergence indicator, which tracks positive and negative trends, points to a cont

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Thursday, 06 June 2019

May was very successful for the first cryptocurrency - the Bitcoin rate rose by 60%, however, Bloomberg analysts believe that the correction observed in recent days not ended.

According to analysts, GTI Vera Convergence-Divergence indicator, which tracks positive and negative trends, points to a continuation of the fall. For the first time since April, the indicator issued a signal to sell the first cryptocurrency.

> **"The market is in an identity crisis, trying to find a place to stabilize. The key technical levels have been creating market volatility, for sure, due to sudden shifts in sentiment,"**
>
> said Jake Stolarski, senior trader at Greenwich, Connecticut-based Cipher Technologies.

<a class="eb-image-viewport"> !</a>

In early June, the first cryptocurrency fell by 12%, reaching $ 7,550. However, at the time of publication, the Bitcoin rate rose slightly and is trading at $ 7,800.

> **"People are seeing where the resistance is, where the stops are both up and down. People are trying to find a stabilizing point where they can layer into a core position,"**
>
> Stolarski said.

Earlier, the founder of the cryptocurrency bank of Galaxy Digital Mike Novogratz said that the price of Bitcoin would soon consolidate in the range of $ 7,000 to $ 10,000.

[SOURCE ](https://www.bloomberg.com/news/articles/2019-06-04/bitcoin-indicator-flashes-a-sell-signal-as-slump-accelerates)

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