Technical analysis of market rates of Bitcoin shows that the most popular cryptocurrency can collapse even more, up to 2.8 thousand dollars.
Graphs of the average 50-day and 200-day values can intersect, forming the so-called "death cross". The latter represents a clear signal to a sharp decline. According to the analyst of the investment company Market Securities Dubai, Paul Dey, in comparison with the indicators of the end of February, the cryptocurrency should fall by 76 percent. At the moment, Bitcoin costs about 8100 dollars.
On March 14, Europe's largest insurance company Allianz expressed the opinion that the bubble in the Bitcoin market would burst sooner or later. The insurer's management believes that the real cost of Bitcoin is zero.
On March 13, investment bank Goldman Sachs warned that in the near future the cost of Bitcoin would fall below the February lows and could drop to a mark of five thousand dollars.
In December 2017, Bitcoin reached the highest mark in history - almost 20 thousand dollars, but in early 2018 all the cryptocurrencies began to drop sharply. Now it has stabilized at a level above eight thousand dollars.
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