Bloomberg: GTI VERA technical indicators for the first time in the past two months to sell signals, BTC prices may fall further

As bitcoin prices approached $5,000, Bloomberg issued a new warning on the price movement of Bitcoin. The GTI VERA convergence divergence technical indicator has shown its first sell signal since mid-March. This shift may indicate that prices may fall further in the future. Note: This technical indicator aims to identify the reversal and kinetic energy of the market (trend). It uses the MACD indicator and a proprietary theory called “VERA Relative Adjustment (VERA).” London-based blockchain investment George McDonaugh, CEO of the company's KR1 Plc, said that Bitcoin's decline is natural. "When Bitcoin rose sharply a few weeks ago, the volume was enough to break through the main resistance into a new trading range. The current trend is the natural market cycle in the trading range, but the market is looking for the lower limit. The news about the competitive products (Bitfinex event) has caused some dramatic events and uncertainties in the market. ”